Mainstream ex-China steel plate offer prices from mills have mostly been heard at $525-535/mt FOB as of today, Monday, September 14, moving sideways on average week on week, amid the declining trend in the local market and high levels of iron ore prices.
Reference deal prices have been heard at $515-520/mt FOB, to South America and Southeast Asia, keeping in line with that recorded over the previous week. Buyers in Southeast Asia have been heard started to accept China’s prices. However, the approaching long National Day holiday (October 1-8) will exert a negative impact on the demand in local market, which may result in more resources going to export market and drag down steel plate export prices.
During the given week, steel plate prices in the Chinese domestic market have edged down amid the declining trend in ferrous metal futures prices. Market players’ sentiments slackened, thereby they lower prices for sale to bring in cash. Meanwhile, inventory of steel plate has seen rises, exerting a negative impact on its prices.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 20/mt ($2.9/mt) week on week to RMB 3,986/mt ($582.7/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 14, HRC futures at the Shanghai Future Exchange are standing at RMB 3,786/mt ($553.5/mt), decreasing by RMB 78/mt ($11.4/mt) since September 7.
$1 = RMB 6.8361
