Mainstream ex-China steel plate offer prices from mills have been heard at $550-570/mt FOB for July shipment as of today, Monday, April 29, edging up by $10/mt on average as compared to April 22. The reference deal prices have been heard at $550-555/mt FOB to South America, Africa and the Middle East, up $10/mt on average compared to April 22.
During the given week, steel plate prices in the Chinese domestic market have moved sideways. Steel plate producers’ capacity utilization rates have been at relatively high levels, while demand has not seen any significant improvement as downstream users have not built up stocks ahead of the Labor Day holiday (May 1-5). Cautious sentiments have prevailed among market players. Demand for steel plate will likely slacken in the coming week due to the long holiday, while the firm raw material prices will bolster steel plate prices. 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 remained stable compared to April 22, standing at RMB 3,917/mt ($552/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,816/mt ($537.5/mt), decreasing by RMB 1/mt ($0.14/mt) or 0.03 percent since April 22, while down 0.18 percent compared to the previous trading day, April 26.
$1 = RMB 7.1066
