Ex-China steel plate export prices have edged up slightly over the past week.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $525-545/mt FOB for July shipment as of today, Monday, May 18, up $5/mt on average compared to May 11. Besides, the reference deal prices have been heard at $520-535/mt FOB to South America, Africa and the Middle East, up $5/mt compared to May 11.
During the given week, steel plate prices in the Chinese domestic market have edged down amid the relatively slack demand from downstream users. The stock replenishment peak has passed, exerting a negative impact on steel plate market. Currently, the resources circulating in the market have been tight, bolstering steel plate prices to a certain degree. However, the weakening sentiments may curb the steel plate prices. It is expected that steel plate prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 27/mt ($3.9/mt) compared to May 11, standing at RMB 3,573/mt ($522/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,429/mt ($501/mt), decreasing by RMB 68/mt ($9.9/mt) or 1.94 percent since May 11, while decreasing by 1.04 percent compared to the previous trading day, May 15.
$1 = RMB 6.8435
