Ex-China steel plate export prices have moved sideways over the past week since, even though production levels have been slightly higher for specific grades, demand has not been so bad.
Specifically, mainstream ex-China steel plate offer prices from big mills have been heard at $515-530/mt FOB as of today, Monday, August 10, remaining stable on average compared to August 3. Besides, the reference deal prices have been heard at $510-520/mt FOB to South America, Africa and the Middle East, moving sideways week on week.
During the given week, steel plate prices in the Chinese domestic market have indicated slight rises amid smooth destocking activity. Meanwhile, the production of steel plate has indicated slight rises since some steel plate producers have resumed production following previous production halts. Demand for steel plate has continued to be slack, while demand for high-grade steel products in the shipbuilding and energy equipment sectors has remained relatively resilient, providing support for medium steel plate prices against downside risks. It is expected that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have risen by RMB 17/mt ($2.5/mt) compared to August 3, to RMB 3,477/mt ($512/mt) ex-warehouse, according to SteelOrbis' information.
As of August 10, HRC futures at Shanghai Futures Exchange are standing at RMB 3,235/mt ($476/mt), increasing by RMB 38/mt ($5.6/mt) or 1.14 percent since August 3, while down 0.12 percent compared to the previous trading day, August 7.
$1 = RMB 6.7884
