Mainstream ex-China steel plate offer prices from mills have mostly been heard at $555-565/mt FOB as of today, Monday, November 23, moving up by $20/mt on average week on week due to the increases seen in raw material prices and the appreciation of the Chinese currency, while local plate prices have also moved up.
Deal prices have been heard at $550/mt FOB to Southeast Asia, moving up by $15/mt on average from the previous week.
During the given week, steel plate prices in China have moved up amid rising ferrous metal futures prices in China and increasing raw material prices. Downstream users have mainly been replenishing rather than building up stocks. At the same time, inventory of steel plate has not indicated big changes, which will bolster prices in the coming week.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 57/mt ($8.7/mt) week on week to RMB 4,063/mt ($618.4/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 23, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,011/mt ($610/mt), increasing by RMB 13/mt ($2.0/mt) or 0.325 percent since November 16.
$1 = RMB 6.5719
