Mainstream ex-China steel plate offer prices from mills have been heard at $620/mt FOB for October shipment as of today, Monday, August 7, versus $620-630/mt FOB last week. Meanwhile, reference deal prices have been heard at $610/mt FOB to South America and Southeast Asia, also declining by $5/mt compared to July 31, though according to sources, some offers have been heard from Chinese traders at around $595/mt FOB this week.
During the given week, steel plate prices in the Chinese domestic market have indicated a downtrend amid the prevailing cautious sentiments among market players. HRC futures prices have moved down, exerting a negative impact on steel plate market. At the same time, floods caused by typhoons negatively affected the demand for steel plate and the transportation. Moreover, coking plants attempted to implement the fifth round of price rises, though still waiting for downstream users’ feedback, which will provide certain support to steel plate prices from cost side. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 34/mt ($4.8/mt) compared to July 31, standing at RMB 4,073/mt ($570.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,984/mt ($558/mt), decreasing by RMB 100/mt ($14/mt) or 2.45 percent since July 31, while down 0.87 percent compared to the previous trading day.
$1 = RMB 7.138
