Mainstream ex-China steel plate offer prices from mills have been heard at $780-790/mt FOB for March shipment as of today, Monday, January 10, falling by $30/mt compared to December 27. The reference deal prices have been heard at $775-785/mt FOB to South America and Southeast Asia, but the trading has been weak and buyers have been waiting for further declines.
During the given week, steel plate prices in the Chinese domestic market have indicated a downtrend even despite rises in HRC futures prices. Demand for steel plate has been slack, exerting a negative impact on prices. It is expected that steel plate prices in the Chinese domestic market will move down in the coming week as it is getting close to the Chinese New Year holiday (January 31-February 6).
Average Q235 20 mm steel plate spot prices in China have lost RMB 74/mt ($11.6/mt) week on week, to RMB 5,006/mt ($786.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 10, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,632/mt ($728/mt), increasing by RMB 219/mt ($34.4/mt) or 4.96 percent since December 27.
$1 = RMB 6.365
