Mainstream ex-China steel plate offer prices from mills have mostly been heard at $525-535/mt FOB for January shipment as of today, Monday, November 9, moving up by $7.5/mt on average week on week due to the rises seen in coke and semis prices, as well as in HRC futures prices.
Deal prices have been heard at $525/mt FOB to Southeast Asia, moving up by $10/mt on average from the previous week. Currently, demand for steel plate in the local market is good amid the prevailing bullish sentiments as regards the future prospects for the market. Meanwhile, supply of steel plate has been showing some tightness, which has bolstered prices. At the same time, inventory of steel plate has been at relatively low levels, also providing support for prices.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 34/mt ($5.1/mt) week on week to RMB 4,000/mt ($605/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 9, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,983/mt ($602.4/mt), increasing by RMB 108/mt ($16.3/mt) or 2.8 percent since November 2.
$1 = RMB 6.6123
