Mainstream ex-China steel plate offer prices from mills have been heard at $900-910/mt FOB for May shipment as of today, Monday, March 14, moving down by $15/mt compared to March 7. Reference deal prices have been heard at $880-890/mt FOB to South America and Southeast Asia, while it was $900/mt FOB at the lowest a week before.
During the given week, plate demand in China from downstream users has not improved to expected levels due to the National People's Congress and the Chinese Political Consultative Conference (NPC & CPPCC) and the worsening of the Covid-19 pandemic in many regions in China. In order to avoid potential risks, traders have reduced prices to bring in cash. Though cautious sentiments have prevailed among market players, it is thought that steel plate prices in the Chinese domestic market may edge up slightly in the coming week as it enters the traditional peak season.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 100/mt ($15.7/mt) week on week to RMB 5,137/mt ($809/mt) ex-warehouse, according to SteelOrbis’ information.
$1 = RMB 6.3506
