Mainstream ex-China steel plate offer prices from mills have been heard at $505-515/mt FOB for late October shipment as of today, Monday, August 17, moving sideways on average week on week due to the firm trend in the local market following a rising trend in the previous week.
Deal prices have been heard at $505-510/mt FOB to South America and Southeast Asia for small volumes, up by $2.5/mt on average over the past week. There were not so many buyers concluding purchases for steel plate in the export market as they bought sufficient resources previously.
Meanwhile, low prices from South Korea and Indonesia attracted some orders from Southeast Asia and the Middle East. Ex-South Korea and ex-Indonesia steel plates have been sold at $470-480/mt FOB.
During the given week, steel plate prices in the domestic market in China have risen, while demand has not seen significant improvement. The inventory of steel plate has been at relatively low level, which bolstered its prices in spot market. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 17/mt ($2.5/mt) week on week to RMB 3,983/mt ($575/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 17, HRC futures at the Shanghai Future Exchange are standing at RMB 3,950/mt ($569.5/mt), increasing by RMB 56/mt ($8.1/mt) or 1.4 percent since August 10.
$1 = RMB 6.9362
