Mainstream ex-China steel plate offer prices from mills have been heard at $850-860/mt FOB for June shipment as of today, Monday, April 25, moving down by $20-30/mt compared to April 18. Reference deal prices have been heard at $840-850/mt FOB to South America and Southeast Asia, losing around $20/mt week on week, with most buyers taking a wait-and-see position for now, evaluating the falling market.
During the given week, some steel plate producers have resumed production, resulting in rising outputs. Meanwhile, the demand for steel plate has not improved amid the negative impact of the Covid-19 pandemic. Following around one-month of lockdown in Shanghai, the Covid-19 pandemic is expected to ease, but the recent the Covid-19 outbreak in Beijing has impacted the cautiously optimistic outlook seen last week.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 47/mt ($7.2/mt) compared to April 18, standing at RMB 5,223/mt ($804/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,889/mt ($753.3/mt), decreasing by RMB 297/mt ($45.8/mt) or 5.73 percent since April 18.
$1 = RMB 6.4909
