Mainstream ex-China steel plate offer prices from mills have been heard at $720-740/mt FOB for May shipment as of today, Monday, March 15, moving up by $22.5/mt on average compared to March 8.
The reference deal prices have been heard at $710-715/mt FOB for South America, up by $10-15/mt on average from last week amid the maintenance works at some steel mills and the gradual improvement in expectations for demand in the local market. At the same time, buyers in the international market have been cautious as regards purchases amid the sharp rises in freight rates.
During the given week, steel plate prices have risen slightly in the local market, while downstream users have mostly held a wait-and-see stance. Meanwhile, inventory of steel plate has been relatively low and so traders have been unwilling to sell at lower prices. It is thought that steel plate prices in the Chinese domestic market may edge up in the coming week amid the expected improvement in demand from downstream users.
Average Q235 20 mm steel plate spot prices in China have gained RMB 3/mt ($0.46/mt) week on week to RMB 5,006/mt ($770/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,068/mt ($780/mt), increasing by RMB 104/mt ($16/mt) or 2.1 percent since March 8.
$1 = RMB 6.501
