Mainstream ex-China steel plate offer prices from mills have been heard at $550-580/mt FOB for May shipment as of today, Monday, March 18, moving down by $22.5/mt on average as compared to March 11. The reference deal prices have been heard at $545-550/mt FOB to South America, Africa and the Middle East, decreasing by $32.5/mt compared to March 11.
During the given week, steel plate prices have moved on a downtrend amid relatively high inventory levels and slack demand from downstream users. Meanwhile, bearish sentiments have prevailed among market players, exerting a negative impact on the steel plate market. At the same time, iron ore and coke prices have indicated decreases, weakening the support for steel plate prices. It is thought that steel plate prices in the Chinese domestic market will likely edge down slightly in the coming week.
Average Q235 20 mm steel plate spot prices in China have decreased by RMB 93/mt ($13/mt) compared to March 11, standing at RMB 3,927/mt ($553/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,723/mt ($524/mt), decreasing by RMB 42/mt ($6/mt) or 1.1 percent since March 11, while up 0.7 percent compared to the previous trading day, March 15.
$1 = RMB 7.0943
