Mainstream ex-China steel plate offer prices from mills have been heard at $570/mt FOB for January shipment as of today, Monday, November, moving down by $17.5/mt compared to October 31. Reference deal prices have been heard at $550-560/mt FOB to South America and Southeast Asia, down by $25/mt compared to last week.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid increasing inventory levels and the prevailing cautious sentiments towards the prospects for the future market. Meanwhile, Covid-19 restriction measures have exerted a negative impact on the release of demand, weakening the support for steel plate prices. However, steel plate producers have been unwilling to produce amid current losses, which will result in production cuts in the near future. It is expected that steel plate prices in the Chinese domestic market may indicate a rebounding trend in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 10/mt ($1.4/mt) compared to October 31, standing at RMB 3,903/mt ($540/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,618/mt ($500.4/mt), increasing by RMB 161/mt ($22.3/mt) or 4.7 percent since October 31.
$1 = RMB 7.2292