Mainstream ex-China steel plate offer prices from mills have been heard at $525-545/mt FOB for May shipment as of today, Monday, April 8, edging down by $5/mt on average as compared to April 1. The reference deal prices have been heard at $520-525/mt FOB to South America, Africa and the Middle East, decreasing by $5/mt on average compared to April 1.
During the given week, demand for steel plate has been slack, exerting a negative impact on prices. At the same time, the inventory of steel plate has been at a relatively high level, also negatively affecting prices. HRC futures prices have fluctuated within a limited range, signaling prevailing cautious sentiments among market players. Steel plate producers and traders have been less willing to cut their prices. Meanwhile, iron ore prices have edged up, providing some support for steel plate prices from the cost side.
Average Q235 20 mm steel plate spot prices in China have decreased by RMB 10/mt ($1.4/mt) compared to April 1, standing at RMB 3,830/mt ($539/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 8, HRC futures at Shanghai Futures Exchange are standing at RMB 3,728/mt ($525/mt), increasing by RMB 20/mt ($2.8/mt) or 0.54 percent since April 1, while up 0.98 percent compared to the previous trading day, April 3.
$1 = RMB 7.0947
