Ex-China steel plate export prices have moved up over the past week following higher offers for plate in the local market and increasing HRC futures prices in China.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $500-510/mt FOB for April shipment as of today, Monday, March 9, moving up by $7.5/mt compared to last week. Besides, the reference deal prices have been heard at $495-500/mt FOB to South America, Africa and the Middle East.
During the given period, steel plate prices in the Chinese domestic market have moved on an uptrend amid increasing HRC futures prices. Market sentiments have improved to a certain degree, bolstering steel plate prices. Downstream users have been more willing to conclude purchases, which has exerted a positive impact on steel plate prices. It is thought that steel plate prices will rebound further in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 20/mt ($2.9/mt) compared to March 9, standing at RMB 3,377/mt ($489/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 16, HRC futures at Shanghai Futures Exchange were at RMB 3,299/mt ($478/mt), increasing by RMB 29/mt ($4.2/mt) or 0.9 percent since March 9, while up 0.03 percent compared to the previous trading day, March 15.
$1 = RMB 6.9057
