Due to increasing stock replenishment by buyers, mainstream ex-China steel plate prices have been heard at $480-485/mt FOB as of today, Monday, December 30, against $475-480/mt FOB last week, though buyers have been bidding at $475-480/mt FOB for late March delivery.
As the end of the year is approaching, transaction activities have been quiet in the international market.
During the given week, the comparatively low inventory of steel plate has provided a certain degree of support for steel plate prices. Average Q235 20 mm steel plate spot prices in China have remained stable week on week at RMB 3,903/mt ($559/mt) ex-warehouse, according to SteelOrbis’ information.
At the same time, demand for steel plate has been slack due to bearish sentiments prevailing in the flat steel market amid the approaching holidays. As of December 30, HRC futures at the Shanghai Future Exchange are standing at RMB 3,566/mt ($510.8/mt), decreasing by RMB 6/mt ($0.86/mt) or 0.17 percent since December 23.
$1 = RMB 6.981
