Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $490-505/mt FOB for April shipment as of today, Monday, March 2, moving up by $15/mt compared to last week. Besides, the reference deal prices have been heard at $485-500/mt FOB to South America, Africa and the Middle East.
During the given period, steel plate prices in the Chinese domestic market have edged down amid increasing inventories following the long Chinese New Year holiday. Market players expect a rebound in demand may be seen after the Lantern Festival (March 3), which is regarded as the end of the Chinese New Year holiday period, after which market participants will come back to the market. It is thought that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 13/mt ($1.9/mt) compared to February 9, standing at RMB 3,330/mt ($481/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,219/mt ($465/mt), increasing by RMB 20/mt ($2.9/mt) or 0.6 percent since February 9, while up 0.34 percent compared to the previous trading day, February 27.
$1 = RMB 6.9236
