Mainstream ex-China steel offer plate prices have been heard at $475-480/mt FOB for late April shipment as of today, Monday, March 2, moving sideways on average week on week, while deals have been heard at $470-475/mt FOB to Southeast Asia, the Middle East and South Africa, up slightly compared to $465-475/mt FOB a week ago.
Transaction activities in the local Chinese steel plate market have been livelier than in the previous week, bolstering steel plate export offer prices to some extent. The better demand for steel plate in local market due to the resumption of production from downstream users caused exporters to be less desperate to seek sales abroad. Meanwhile, overseas clients have started to adopt a wait-and-see stance towards buying, following their active purchases over the past two weeks.
At the same time, still high inventories have impacted local steel plate prices. Average Q235 20 mm steel plate spot prices in China have edged down by RMB 57/mt ($8.1/mt) week on week to RMB 3,633/mt ($520.4/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 2, HRC futures at the Shanghai Future Exchange are standing at RMB 3,469/mt ($497/mt), decreasing by RMB 21/mt ($3.0/mt) or 0.6 percent since February 24.
$1 = RMB 6.9811
