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 22, moving sideways on average compared to March 15.
The reference deal prices have remained at $710-715/mt FOB mainly to South America. Trading has been not very active amid cautious sentiments between buyers and sellers in the export market due to the pending export tax rebate issue and rising freight costs. However, market players are quite optimistic as regards the future prospects for the market as the peak season for business is approaching.
During the given week, domestic steel plate prices in China have indicated big rises amid rising HRC futures prices and the overall positive outlook for demand in April. Meanwhile, the supply of steel plate has been tight, also bolstering prices. At the same time, inventory has been at relatively low levels, exerting a positive impact on the steel plate market. It is thought that steel plate prices may move up in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 100/mt ($15/mt) week on week to RMB 5,106/mt ($783/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 22, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,097/mt ($782/mt), increasing by RMB 29/mt ($4.4/mt) or 0.57 percent since March 15.
$1 = RMB 6.5191
