Mainstream ex-China steel plate offer prices from mills have been heard at $800-810/mt FOB for June shipment as of today, Monday, May 23, moving down by $50/mt compared to May 16. Reference deal prices have been heard at $790-800/mt FOB to South America and Southeast Asia. Critically weak trading and still negative sentiments have been behind the latest drop.
During the given week, steel plate prices in the Chinese domestic market have edged down amid declining supplies and blocked transportation. However, the inventories of steel plate have not indicated big changes, though transaction activities have shown some improvement. It is thought that steel plate prices in the Chinese domestic market will likely indicate a fluctuating trend within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 27/mt ($4/mt) compared to May 16, standing at RMB 5,136/mt ($769/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 23, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,731/mt ($708/mt), decreasing by RMB 43/mt ($6.4/mt) or 0.9 percent since May 16.
$1 = RMB 6.6756
