Mainstream ex-China steel plate offer prices from mills have been heard at $550/mt FOB for December shipment as of today, Monday, October 30, edging down by $10/mt compared to October 23. Reference deal prices have been heard at $545/mt FOB to South America and Southeast Asia, declining by $10/mt compared to October 23.
During the given week, steel plate prices in the Chinese domestic market have moved up amid the decreasing capacity utilization rates of producers. At the same time, demand for steel plate has improved amid better sentiments among market players due to the issuance of additional special bonds worth RMB 1 trillion for 2023 in the October-December period. Moreover, since it is getting colder in northern China, some projects have sped up activities, resulting in more stock replenishments, bolstering steel plate prices. However, the traditional offseason for the steel industry wil begin in November, which may exert a negative impact on steel plate prices. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 67/mt ($9.3/mt) compared to October 23, standing at RMB 3,840/mt ($535/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 30, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,856/mt ($537/mt), increasing by RMB 150/mt ($21/mt) or 4.05 percent since October 23, while up 1.07 percent compared to the previous trading day.
$1 = RMB 7.1781
