Mainstream ex-China steel plate offer prices from mills have been heard at $790/mt FOB for July shipment as of today, Monday, May 30, moving down by $15/mt compared to May 23. Reference deal prices have been heard at $780/mt FOB to South America and Southeast Asia, with demand still limited in the falling market.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the fluctuating trend of HRC futures prices. Meanwhile, demand has remained slack, exerting a negative impact on steel plate prices. Since Shanghai municipal government has announced the lifting of the lockdown as of June 1, market players looked forward to improved demand from downstream users. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 83/mt ($12.4/mt) compared to May 23, standing at RMB 5,053/mt ($754/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 30, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,733/mt ($706/mt), rising by RMB 2/mt ($0.3/mt) or 0.04 percent since May 23.
$1 = RMB 6.7048
