Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for November shipment as of today, Monday, August 25, decreasing by $5/mt on average as compared to August 18. The reference deal prices have been heard at $490/mt FOB to South America, Africa and the Middle East, edging down by $5/mt on average compared to August 18.
During the given week, steel plate prices in the Chinese domestic market have edged down slightly amid the slack demand from downstream users and increased inventories. Cautious sentiments have prevailed among market players. Some steelmakers have plans for maintenance works, mostly at the end of August or in early September, which will bolster steel plate prices in the near future. At the same time, since the traditional peak season for the steel industry is approaching, the demand for steel plate will improve, while the extent of any price rebound will depend on the actual release of demand. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 10/mt ($1.4/mt) compared to August 18, standing at RMB 3,520/mt ($495/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,389/mt ($477/mt), decreasing by RMB 30/mt ($4.2/mt) or 0.9 percent since August 18, while up 0.92 percent compared to the previous trading day, August 22.
$1 = RMB 7.1161
