Mainstream ex-China steel plate offer prices from mills have been heard at $870-900/mt FOB for September shipment as of today, Monday, July 12, moving sideways on average compared to July 5. Tradable price level is still at $860-900/mt FOB to different destinations from South America to Southeast Asia. The market has been stable amid cautious sentiment during the traditional offseason.
However, during the given week, local steel plate prices have risen sharply amid increasing HRC futures prices and improved sentiments among market players, which may provide support for export prices in the near future, sources believe.
Nevertheless, domestic demand has remained slack. At the same time, inventory levels of steel plate have indicated a slight rise, which may limit price rises. It is expected that prices may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 173/mt ($26.7/mt) week on week, to RMB 5,433/mt ($838.6/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,828/mt ($899.6/mt), increasing by RMB 334/mt ($51.6/mt) or 6.08 percent since July 5.
$1 = RMB 6.4785
