Mainstream ex-China steel plate offer prices from mills have been heard at $590/mt FOB for October shipment as of today, Monday, August 14, moving down by $30/mt compared to August 7. Reference deal prices have been heard at $580/mt FOB to South America and Southeast Asia, also declining by $30/mt compared to August 7.
During the given week, steel plate prices in the Chinese domestic market have indicated a downtrend amid the slight rises in production output. Inventory of steel plate has continued its rising trend, exerting a negative impact on prices. Cautious sentiments have prevailed among market players. It is thought that steel plate prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 43/mt ($6/mt) compared to August 7, falling to RMB 4,030/mt ($562/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,889/mt ($542/mt), decreasing by RMB 95/mt ($13/mt) or 2.4 percent since August 7, while down 0.79 percent compared to the previous trading day.
$1 = RMB 7.1686
