Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for July shipment as of today, Monday, June 9, edging down by $2.5/mt on average as compared to May 26. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, also down $2.5/mt on average compared to May 26.
During the given period, steel plate prices have indicated a downtrend amid the relatively steady production activities on producers’ side and slack demand from downstream users. Since it has been in the traditional offseason, downstream users only purchased as needed, exerting a negative impact on steel plate prices. Moreover, it has been in the plum rainy season in the lower and middle reaches of the Yangtze River, and this rainy season will last for around 40 days, which will negatively affect the steel plate market. However, Chinese major steelmaker Baosteel Group announced to keep its ex-w prices for steel plate stable, likely bolstering its prices to a certain degree. It is expected that steel plate prices in the Chinese domestic market will move down slightly in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 57/mt ($7.9/mt) compared to May 26, standing at RMB 3,473/mt ($482/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 9, HRC futures at Shanghai Futures Exchange are standing at RMB 3,095/mt ($430/mt), decreasing by RMB 43/mt ($6/mt) or 1.4 percent since May 26, while down 0.06 percent compared to the previous trading day, May 26.
$1 = RMB 7.1855