Export prices for Chinese steel plate have inched higher over the past week, supported by gains in domestic steel plate and HRC futures prices. At the same time, market participants have noted limited trading activity, but firmer sentiment in the futures market has provided some mild upward momentum for export offers.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $495-500/mt FOB for November shipment as of today, Monday, September 22, moving up by $5/mt on the lower end of the range week on week. Besides, the reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, increasing by $/mt compared to September 15.
During the given week, steel plate prices in the Chinese domestic market have seen slight rises amid the production halts in Tangshan, the major steelmaking hub in Hebei Province. Since the National Day holiday (October 1-8) is closely approaching, stock replenishments have been observed and will likely continue in the coming period, exerting a positive impact on the steel plate market. Demand from downstream users has improved slightly, which will also bolster steel plate prices to a certain degree. It is thought that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 17/mt ($2.4/mt) compared to September 15, standing at RMB 3,513/mt ($495/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 22, HRC futures at Shanghai Futures Exchange are standing at RMB 3,380/mt ($475/mt), increasing by RMB 10/mt ($2.5/mt) or 0.3 percent since September 15, while up 0.54 percent compared to the previous trading day, September 19.
$1 = RMB 7.1106
