Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for April shipment as of Monday, February 24, moving sideways on average as compared to February 17. The reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, against $485-495/mt FOB last week.
During the given week, steel plate prices in the Chinese domestic market have edged up amid the improved demand from downstream users and increasing HRC futures prices. However, following price rises over the past few days, some market players have felt cautious as regards the prospects for the future trend, resulting in poor transaction activities for high-priced steel plate. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 14/mt ($2/mt) compared to February 17, standing at RMB 3,527/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,431/mt ($475/mt), increasing by RMB 25/mt ($4.2/mt) or 0.7 percent since February 17, while down 1.24 percent compared to the previous trading day, February 21.
$1 = RMB 7.1717