Ex-China steel plate export prices have remained stable over the past week given the silent trade conditions in the main trade destinations.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for February shipment as of today, Monday, January 5, moving sideways compared to last week. Besides, the reference deal prices have been heard at $470-485/mt FOB to South America, Africa and the Middle East.
During the given week, HRC futures prices have indicated decreases, exerting a negative impact on steel plate prices. Demand for steel plate has been slack during the traditional cold winter offseason, weakening prices. Inventories of steel plate have decreased slightly, providing support for prices. The rising trend in the stock market has bolstered market sentiments. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 17/mt ($2.4/mt) compared to December 29, standing at RMB 3,347/mt ($476/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 5, HRC futures at Shanghai Futures Exchange are standing at RMB 3,248/mt ($462/mt), decreasing by RMB 39/mt ($6.2/mt) or 1.2 percent since December 29, while down 0.79 percent compared to the previous trading day, December 31.
$1 = RMB 7.023
