Mainstream ex-China steel plate offer prices from mills have been heard at $935-945/mt FOB for October shipment as of today, Monday, August 30, moving sideways on average compared to that recorded on August 23. However, reference deal prices have been heard at $920-925/mt FOB to South America and Southeast Asia, down by $10-15/mt over the week, which has been connected with very weak demand in Asia.
During the given week, China domestic steel plate prices have been almost unmoved, supported by the increasing HRC futures. But at the same time, demand for steel plate has not seen significant improvement yet, though it will likely improve gradually in the near future, according to sources. It is thought that steel plate prices may move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 14/mt ($2.2/mt) week on week, at RMB 5,620/mt ($869/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 30, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,637/mt ($872/mt), increasing by RMB 173/mt ($26.7/mt) or 3.2 percent since August 23.
$1 = RMB 6.4677