Mainstream ex-China steel plate offer prices from mills have been heard at $600/mt FOB for February shipment as of today, Monday, December 26, edging up by $5/mt on average compared to December 19. Reference deal prices have been heard at $590-595/mt FOB to South America and Southeast Asia, also gradually increasing up from $580-590/mt FOB last week.
During the given week, steel plate prices in the Chinese domestic market have edged down slightly amid the slack demand from downstream users. Meanwhile, HRC futures prices fluctuated within a limited range with some positive bias lately, supporting the steel plate market. As it is approaching to the Chinese New Year holiday and mass infection of Covid-19 has been seen lately, the bearish sentiments prevailed among market players. However, the inventory of steel plate has been at relatively low level, which will bolster its prices. It is expected that steel plate prices may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 13/mt ($1.9/mt) compared to December 19, standing at RMB 4,143/mt ($593/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,048/mt ($580/mt), increasing by RMB 67/mt ($9.6/mt) or 1.7 percent since December 19.
$1 = RMB 6.9825
