Mainstream ex-China steel plate offer prices from mills have been heard at $900-930/mt FOB for August shipment as of today, Monday, June 21, moving down by $25/mt on average compared to June 7.
Though some deals have been heard at $900-920/mt FOB to South America and Southeast Asia, down by $10/mt over the past week, buyers from overseas markets have mostly held a wait-and-see stance due to the downtrend in ferrous metal futures prices and the uncertainty regarding the export tax. Traders think the demand for steel plate may remain slack amid the traditional offseason in China, which will exert a negative impact on steel plate prices.
During the given week, domestic steel plate prices have indicated sharp declines amid the decreasing trend of HRC futures prices in China. At the same time, downstream buyers have been cautious in concluding purchases of steel plate. It is thought that steel plate prices may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 137/mt ($21.2/mt) week on week to RMB 5,423/mt ($840/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,170/mt ($801/mt), decreasing by RMB 266/mt ($41.2/mt) or 4.9 percent since June 15.
$1 = RMB 6.4546
