Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for January shipment as of today, Monday, December 2, moving down by $2.5/mt on average as compared to November 25. The reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, edging down by $2.5/mt on average compared to November 25.
During the given week, steel plate prices in the Chinese domestic market have moved up slightly amid increasing HRC futures prices. The supply of steel plate has increased, easing the shortage in the spot market. Meanwhile, demand from downstream users has become slack as construction activities have slowed down due to the traditional offseason. Cautious sentiments have started to prevail among market players. It is expected 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 November 25, standing at RMB 3,613/mt ($502.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,520/mt ($490/mt), increasing by RMB 57/mt ($8/mt) or 1.65 percent since November 25, while down 0.32 percent compared to the previous trading day, November 29.
$1 = RMB 7.1865