Mainstream ex-China steel plate offer prices from mills have mostly been heard at $640-650/mt FOB for March shipment as of today, Monday, February 1, moving down by $2.5/mt on average week on week amid the slowing down of demand in the local market.
The approach of the Chinese New Year holiday has exerted a negative impact on ex-China steel plate offer prices, while the high levels of production costs have provided support for prices.
A small-volume deal to South Africa has been heard at $640/mt FOB, moving down by $2.5/mt on average from the previous week.
During the given week, the still high raw material prices have bolstered steel plate prices, while the slack demand ahead of the long holiday has negatively affected prices. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 36/mt ($5.6/mt) week on week to RMB 4,526/mt ($701/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,342/mt ($672/mt), decreasing by RMB 84/mt ($13/mt) or 1.9 percent since January 25.
$1 = RMB 6.4623
