Mainstream ex-China steel plate offer prices from mills have mostly been heard at $520-525/mt FOB for January shipment as of today, Monday, November 2, moving up by $2.5/mt on average week on week.
Deal prices have been heard at $515/mt FOB to Southeast Asia, moving up by $6/mt on average from the previous week. Currently, demand for steel plate in the local market has been at decent levels and traders have been seeking to purchase from mills to meet export demand, which has supported prices, even though market players have some concern about future demand as the winter season is approaching.
During the given week, rising futures prices bolstered steel plate prices in China, while steel plate inventory has seen slight rises, though market players are still bullish on the future prospects for the steel plate market. Average Q235 20 mm steel plate spot prices in China have edged up by RMB 10/mt ($1.5/mt) week on week to RMB 3,966/mt ($591.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 2, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,875/mt ($578/mt), increasing by RMB 80/mt ($12/mt) or 2.1 percent since October 26.
$1 = RMB 6.705
