Mainstream ex-China steel plate offer prices from mills have been heard at $790-800/mt FOB for March shipment as of today, Monday, January 24, rising by $10/mt compared to January 17, even though only rare deals have been heard.
The reference deal prices have been heard at $785-790/mt FOB to South America and Southeast Asia, with one small contract heard at the lower end of the range or slightly below.
The support has come mainly from better sentiments and outlook for the post-holiday period, with futures prices rising.
During the given week, steel plate prices in the Chinese domestic market have remained stable. As the Chinese New Year is approaching, demand has been sluggish because most market players have left the market ahead of the holiday. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have remained stable week on week, still standing at RMB 4,980/mt ($785/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,773/mt ($753/mt), increasing by RMB 108/mt ($17/mt) or 2.3 percent since January 17.
$1 = RMB 6.3411
