Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for August shipment as of today, Monday, June 23, remaining stable on average as compared to June 16. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to June 16.
During the given period, steel plate prices in the Chinese domestic market have moved down amid the slack demand from downstream users in the traditional off-season. Construction activities have slowed down at construction sites, exerting a negative impact on demand for steel plate. However, steel plate producers’ capacity utilization rates have decreased, bolstering prices amid the declining supply in the spot market. The widespread rainy weather will continue in eastern and southern China, which will negatively affect the steel plate market. It is expected that steel plate prices in the Chinese domestic market will soften in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 40/mt ($5.6/mt) compared to June 16, standing at RMB 3,387/mt ($470/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,112/mt ($432/mt), increasing by RMB 8/mt ($1.1/mt) or 0.26 percent since June 13, while down 0.16 percent compared to the previous trading day, June 20.
$1 = RMB 7.171
