Ex-China steel plate export prices have edged up over the past week.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $505-515/mt FOB for April shipment as of today, April 14, rising by $5/mt compared to last week. Besides, the reference deal prices have been heard at $500-505/mt FOB to South America, Africa and the Middle East.
During the given period, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid decreasing HRC futures prices. Cautious sentiments have prevailed among market players as spot trading has basically been for essential inventory replenishment, which has exerted a negative impact on the steel plate market. Meanwhile, US President Trump announced that the US military would blockade the Strait of Hormuz starting from April 13, which pushed up oil prices again, which may negatively affect market sentiments. It is expected that steel plate prices will move sideways in the coming week.
Average 20 mm Q235 steel plate spot prices in China have remained stable compared to March 30, standing at RMB 3,397/mt ($494.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,279/mt ($477/mt), decreasing by RMB 30/mt ($4.4/mt) or 0.9 percent since March 31, while up 0.12 percent compared to the previous trading day, April 13.
$1 = RMB 6.8657
