Mainstream ex-China steel plate offer prices from mills have mostly been heard at $640-650/mt FOB for April shipment as of today, Monday, February 8, moving sideways on average week on week amid the stable trend in the local market and the proximity of the Chinese New Year holiday.
Market players think that possible rises in production cost may bolster ex-China steel plate prices after the holidays. At the same time, demand for steel plate in the local market is expected to be good after the long holiday, which will exert a positive impact on steel plate prices.
During the given week, steel plate prices have moved sideways amid slack demand as downstream users have been on holiday. Most players left the market and have chosen to keep their prices stable. Inventory of steel plate has increased and will continue to rise due to the approach of the Chinese New Year holiday.
Average Q235 20 mm steel plate spot prices in China have remained stable week on week at RMB 4,526/mt ($701/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,546/mt ($704/mt), increasing by RMB 204/mt ($32/mt) or 4.7 percent since February 1.
$1 = RMB 6.4678
