Mainstream ex-China steel plate offer prices from mills have been heard at $570-580/mt FOB for January shipment as of today, Monday, November 14, edging up by $5/mt compared to November 7. Reference deal prices have been heard at $550-560/mt FOB to South America and Southeast Asia, moving sideways compared to last week.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid decreasing capacity utilization rates and increasing inventory levels, and so traders have been unwilling to bolster their offer prices. However, following the rises in ferrous metal futures prices, market players’ sentiments have improved to some extent, providing some support for steel plate prices. At the same time, the easing of Covid-19 restriction measures will likely exert a positive impact on the steel plate market. It is thought that steel plate prices in the Chinese domestic market will likely edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 7/mt ($0.99/mt) compared to November 7, standing at RMB 3,896/mt ($549.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,751/mt ($529/mt), increasing by RMB133/mt ($18.8/mt) or 3.7 percent since November 7.
$1 = RMB 7.0899
