Although local prices for steel plates in China have started to show some signs of increase supported by a slight recovery in HRC futures prices, mainstream ex-China steel plate offer prices from mills have declined by $5/mt on average over the past week to $475-485/mt FOB for May shipment as of today, Monday, March 17. The reference deal prices have been heard at $475-480/mt FOB to South America, Africa and the Middle East, also declining by $5/mt on average compared to March 10.
During the given week, steel plate prices in the Chinese domestic market have edged up slightly amid the increasing HRC futures prices and declining inventory levels. The decreasing inventories bolstered steel plate prices to a certain degree. However, traders have had divergent views on the future steel plate market, which may exert a negative impact on prices. It is thought that steel plate prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 20/mt ($2.8/mt) compared to March 10, standing at RMB 3,523/mt ($491/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 17, HRC futures at Shanghai Futures Exchange are standing at RMB 3,386/mt ($472/mt), increasing by RMB 57/mt ($8/mt) or 1.7 percent since March 10, while down 1.17 percent compared to the previous trading day, March 14.
$1 = RMB 7.1688