Mainstream ex-China steel plate offer prices from mills have been heard at $880-890/mt FOB for January shipment as of today, Monday, November 15, edging down by $10/mt week on week. The reference deal prices have also gone down by $10/mt to $865-875/mt FOB to South America and Southeast Asia, but the trading has remained poor.
During the given week, local steel plate prices in China have seen big declines amid the sharp decreases of ferrous metal futures prices and the prevailing panic sentiments among market players. The demand for steel plate will unlikely see improvement, which will exert a negative impact on its prices in the near future. It is expected that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week, but further declines are not excluded.
Average Q235 20 mm steel plate spot prices in China have lost RMB 244/mt ($38.2/mt) week on week, to RMB 5,156/mt ($807/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,433/mt ($694/mt), decreasing by RMB 131/mt ($20.5/mt) or 2.9 percent since November 8.
$1 = RMB 6.3896
