Mainstream ex-China steel plate offer prices from mills have been heard at $585-590/mt FOB for January shipment as of today, Monday, October 31, moving down by $12.5/mt compared to October 24. Reference deal prices have been heard at $580/mt FOB South America and Southeast Asia.
During the given week, steel plate prices in the Chinese domestic market have continued their downtrend amid the prevailing bearish sentiments among market participants due to the repeated outbreaks of the Covid-19 pandemic in many regions of China. Meanwhile, HRC futures prices have continued to decline, exerting a negative impact on the steel plate market. It is thought that steel plate prices in the Chinese domestic market will edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 100/mt ($13.9/mt) compared to October 24, standing at RMB 3,893/mt ($542/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 31, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,457/mt ($481.5/mt), decreasing by RMB 199/mt ($27.7/mt) or 5.44 percent since October 24.
$1 = RMB 7.1768