Mainstream ex-China steel plate offer prices from mills have been heard at $510-520/mt FOB for January shipment as of today, Monday, November 18, moving down from $515-535/mt FOB reported on November 11. The reference deal prices have been heard at $500/mt FOB to South America, Africa and the Middle East, declining by $10/mt on the higher end of the range week on week, compared to November 11.
During the given week, steel plate prices in the Chinese domestic market have edged down amid decreasing HRC futures prices and the prevailing cautious sentiments among market players. Steel plate producers’ capacity utilization rates are currently at relatively low levels, resulting in low inventories in the market, providing support for prices. However, the cold weather has exerted a negative impact on stock replenishment by downstream users and traders, weakening steel plate prices to a certain degree. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 23/mt ($3.2/mt) compared to November 11, standing at RMB 3,577/mt ($497.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,471/mt ($483/mt), decreasing by RMB 39/mt ($5.4/mt) or 1.1 percent since November 11, while up 0.38 percent compared to the previous trading day, November 15.
$1 = RMB 7.1907
