Mainstream ex-China steel plate offer prices from mills have been heard at $465-470/mt FOB for October shipment as of today, Monday, September 9, decreasing by $10/mt on average as compared to September 2. The reference deal prices have been heard at $465/mt FOB to South America, Africa and the Middle East, down $10/mt on average compared to September 2.
During the given week, steel plate prices in the Chinese domestic market have moved down amid sluggish demand and the prevailing bearish sentiments among market players. Even in September, the traditional peak season for business, the weather has remained hot in many regions of China, exerting a negative impact on the steel plate market as demand is only being released slowly. However, steel plate outputs have been a relatively low level as some producers have implemented maintenance works, which will bolster prices to a certain degree.
Average Q235 20 mm steel plate spot prices in China have lost RMB 133/mt ($19/mt) compared to September 2, standing at RMB 3,170/mt ($446.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 9, HRC futures at Shanghai Futures Exchange are standing at RMB 3,140/mt ($442/mt), decreasing by RMB 145/mt ($20.4/mt) or 4.4 percent since September 2, while up 0.87 percent compared to the previous trading day, September 6.
$1 = RMB 7.0989
