Mainstream ex-China steel plate offer prices from mills have been heard at $495-505/mt FOB for September shipment as of today, Monday, August 18, moving up by $7.5/mt on average as compared to August 11. The reference deal prices have been heard at $495/mt FOB to South America, Africa and the Middle East, edging up by $5/mt on average compared to August 4.
During the given week, steel plate prices in the Chinese domestic market have edged up slightly amid production halts and anticipated lower supply to the market. Speculative demand has been seen to a certain degree, resulting in quite good transaction activities for steel plate on the lower end of the price range. However, demand has remained slack in the traditional off-season, which will negatively affect steel plate prices in the near future. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 10/mt ($1.4/mt) compared to August 11, standing at RMB 3,530/mt ($495/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,419/mt ($479.5/mt), decreasing by RMB 46/mt ($6.5/mt) or 1.3 percent since August 11, while down 0.2 percent compared to the previous trading day, August 15.
$1 = RMB 7.1322
