Mainstream ex-China steel plate offer prices from mills have mostly been heard at $505-515/mt FOB for late October shipment as of today, Monday, August 24, moving sideways on average week on week, though some higher offer prices at $515-520/mt FOB have also been heard from eastern China due to rising iron ore prices and decent demand in the local market.
Deal prices have been heard at $505-510/mt FOB to South America and Southeast Asia, moving sideways on average over the past week. Ex-South Korea steel plate offer prices are heard to have increased by $20/mt to $490-500/mt FOB amid the increases in iron ore prices.
During the given week, steelmakers increased their ex-works prices for steel plate, exerting a positive impact on prices in the spot market. Meanwhile, demand from the energy and construction industries has been quite good, bolstering steel plate prices. More steel plate supplies have arrived in the market, resulting in slight rises in inventory levels. It is expected that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 3/mt ($0.4/mt) week on week to RMB 3,986/mt ($576/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,937/mt ($569.0/mt), decreasing by RMB 13/mt ($1.9/mt) or 0.3 percent since August 17.
$1 = RMB 6.9194
