Mainstream ex-China steel plate offer prices from mills have been heard at $690-700/mt FOB for April shipment as of today, Monday, March 1, moving sideways on average compared to February 22.
The reference deal prices have been at $685-695/mt FOB, almost in line with those recorded just after the holiday as demand in the export market has been weak and only slight rises have been seen in the local market in China recently.
The improvement in local demand for steel plate bolstered ex-China steel plate offer prices just after the holiday, while the high levels of iron ore prices also provided support. There are maintenance works on the steelmakers’ side, which will reduce supply of steel plate and exert a positive impact on prices.
However, downstream users have been cautious about concluding purchases following the quick price rises. Inventory of steel plate is at relatively low levels amid tight supply of steel plate for some specifications.
Average Q235 20 mm steel plate spot prices in China have gained RMB 23/mt ($3.6/mt) week on week, to RMB 4,903/mt ($757/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,841/mt ($748/mt), increasing by RMB 19/mt ($2.9/mt) or 0.39 percent since February 22.
$1 = RMB 6.4754
