Mainstream ex-China steel plate offer prices from mills have been heard at $545-565/mt FOB for August shipment as of today, Monday, June 17, edging down by $5/mt on average as compared to June 3. The reference deal prices have been heard at $545-550/mt FOB to South America, Africa and the Middle East, also decreasing by $5/mt on average compared to June 3.
During the given week, steel plate price in the Chinese domestic market have moved on a downtrend amid the increasing capacity utilization rates on producers’ side. Inventory of steel plate has seen rises, which negatively affected steel plate prices. Moreover, HRC futures prices edged down, exerting a negative impact on steel plate market. Since it becomes hotter and hotter in summer, the demand for steel plate will slacken in the future. It is expected that steel plate prices in the Chinese domestic market will likely edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 60/mt ($8.4/mt) compared to June 3, standing at RMB 3,817/mt ($537/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 17, HRC futures at Shanghai Futures Exchange are standing at RMB 3,780/mt ($532/mt), decreasing by RMB 20/mt ($2.8/mt) or 0.5 percent since June 3, while down 0.63 percent compared to the previous trading day, June 14.
$1 = RMB 7.1149
