Mainstream ex-China steel plate offer prices from mills have been heard at $670/mt FOB for September shipment as of today, Monday, July 25, edging down by $10/mt compared to July 18. Poor demand and the still negative sentiment in the Asian region have pressured export prices, though, after the previous sharp drops this correction has been small as the local Chinese market has inched up lately.
Reference deal prices have been heard at $660/mt FOB to South America and Southeast Asia, down by $5-15/mt over the past week. Some sellers may consider bids at $650/mt FOB, but overall trading has been limited.
During the given week, prices in the Chinese domestic market have declined for low alloy medium plate and shipbuilding plate, though rising slightly for common carbon medium plate. Demand for common steel plate has improved to some extent, while supplies have not seen big changes, exerting a positive impact on prices. It is thought steel plate prices in the Chinese domestic market may move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 10/mt ($1.5/mt) compared to July 18, standing at RMB 4,076/mt ($604/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,857/mt ($571/mt), rising by RMB 72/mt ($11/mt) or 1.9 percent since July 18.
$1 = RMB 6.7543
