Mainstream ex-China steel plate prices have been heard at $490-495/mt FOB for April shipment as of today, Monday, February 3, moving down by $2.5/mt on average week on week, decreasing from levels of $495/mt FOB recorded ahead of the Chinese New Year holiday. However, the offer prices in question are only the offers given by a few northern Chinese steel mills, while no deals have been done.
Due to the outbreak of the coronavirus, demand in the local plate market has been quiet, while most sellers have not issued offer prices yet as they have been officially required to extend the period of their holiday. Based on the offer prices heard from a few sellers, average Q235 20 mm steel plate spot prices in China have moved down by RMB 40/mt ($5.8/mt) week on week to RMB 3,856mt ($556.8/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 3, HRC futures at the Shanghai Future Exchange are standing at RMB 3,246/mt ($468.7/mt), hitting the maximum permitted daily downward limit, decreasing by RMB 283/mt ($40.9/mt) or 8.02 percent since January 23.
$1 = RMB 6.925
