Amid slack demand for steel plate due to the New Year holiday, mainstream ex-China steel plate prices have been heard at $480-485/mt FOB for late March delivery as of today, Monday, January 6, moving sideways week on week, though buyers have been bidding at $5/mt lower.
During the given week, the inventory of steel plate in the local market has risen slightly due to sluggish demand against the backdrop of the holiday, though market participants are not too concerned as traders need to build up some stocks ahead of the Chinese New Year holiday.
Average Q235 20 mm steel plate spot prices in China have seen a slight drop of RMB 3/mt week on week to RMB 3,900mt ($559.4/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 6, HRC futures at the Shanghai Future Exchange are standing at RMB 3,579/mt ($513.4/mt), increasing by RMB 13/mt ($1.86/mt) or 0.36 percent since December 30.
$1 = RMB 6.9718
