Mainstream ex-China steel plate prices have been heard at $480-485/mt FOB for late April shipment as of today, Monday, February 10, moving down by $10/mt on average from levels of $490-495/mt FOB recorded last week. However, buyers are bidding at $470-475/mt.
Due to the ongoing impact from the coronavirus, demand in the local plate market is still weak due to the disruption of traffic, the increased emphasis on working from home, and strict requirements to prepare anti-virus measures ahead of resuming production. Based on the offer prices heard from a few sellers, average Q235 20 mm steel plate spot prices in China have moved down by RMB 133/mt ($19/mt) week on week to RMB 3,723mt ($532.9/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 10, HRC futures at the Shanghai Future Exchange are standing at RMB 3,311/mt ($473.9/mt), relatively stable from Friday, but increasing by RMB 65/mt ($9.3/mt) or two percent since February 3.
$1 = RMB 6.986
