Mainstream ex-China steel plate offer prices from mills have been heard at $680/mt FOB for May shipment as of today, Monday, March 6, moving sideways compared to February 27. However, some producers have already started to indicate their next targets at $685-690/mt FOB.
Reference deal prices have been heard at $670/mt FOB to South America and Southeast Asia, remaining unchanged compared to February 27.
During the given week, steel plate prices in the Chinese domestic market continued to rise amid decreasing inventory levels. At the same time, steel plate producers have been less willing to produce following the increase in supplies during the previous period. Demand for steel plate has weakened to some extent compared to the previous week. However, buyers’ purchasing activities may improve in the coming week amid expected better demand. It is expected that steel plate prices in the Chinese domestic market will rise slightly in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 57/mt ($8.3/mt) compared to February 27, standing at RMB 4,447/mt ($645/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,325/mt ($627/mt), increasing by RMB 48/mt ($7.0/mt) or 1.1 percent since February 27.
$1 = RMB 6.8951
