Mainstream ex-China steel plate offer prices from mills have been heard at $470-475/mt FOB for November shipment as of today, Monday, September 23, increasing by $5/mt on average as compared to September 9. The reference deal prices have been heard at $470/mt FOB to South America, Africa and the Middle East, up $5/mt on average compared to September 9.
During the given week, steel plate prices in the Chinese domestic market have moved up amid the tight supply of some specifications. Steel plate producers plan to resume production in the next week, which will result in slight rises in output. In addition, the US has announced an interest rate cut of 50 basis points, firmly bolstering market sentiments, while traders will build up some stocks ahead of the National Day holiday (October 1-7), which will positively affect steel plate prices. It is thought that steel plate prices in the Chinese domestic market will edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 80/mt ($11.4/mt) compared to September 9, standing at RMB 3,250/mt ($461/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,167/mt ($449/mt), increasing by RMB 27/mt ($3.8/mt) or 0.86 percent since September 9, while down 2.49 percent compared to the previous trading day, September 20.
$1 = RMB 7.0531