Mainstream ex-China steel plate offer prices from mills have mostly been heard at $645-655/mt FOB for March shipment as of today, Monday, January 18, moving down by $12.5/mt on average week on week amid sluggish demand in the local market.
In China’s local market, demand for steel plate has been sluggish in the traditional offseason, causing some steel mills to lower their export offer prices and try to gain more orders from overseas buyers. However, HRC futures prices have edged up, while the high levels of iron ore prices may also provide some support for plate prices.
Reference deal prices have been heard at $645-650/mt FOB to Southeast Asia and South America, moving down by $20/mt on average from the previous week.
During the given week, steel plate prices have moved down as demand has slackened amid the approaching Chinese New Year holiday (February 11-17). Meanwhile, inventory has been at relatively low levels, providing support for steel plate prices.
Average Q235 20 mm steel plate spot prices in China have lost RMB 70/mt ($10.8/mt) week on week to RMB 4,510/mt ($695.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 18, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,503/mt ($694/mt), increasing by RMB 74/mt ($11.4/mt) since January 11.
$1 = RMB 6.4845
