Mainstream ex-China steel plate offer prices from mills have been heard at $595-605/mt FOB for April shipment as of today, Monday, February 26, moving sideways on average as compared to February 19. However, the reference deal prices have been heard at around $590/mt FOB to South America, Africa and the Middle East, against $590-595/mt FOB last week.
During the given week, steel plate prices in the Chinese domestic market have seen a decreasing trend amid insufficient demand from downstream users. The cold weather in most regions of China has exerted a negative impact on the release of demand in the steel plate market. At the same time, more supplies from steel plate producers have arrived in the spot market recently, resulting in increasing inventory levels and negatively affecting steel plate prices. Due to the poor performance in the spot market, cautious sentiments have prevailed among traders. It is expected 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 decreased by RMB 47/mt ($6.6/mt) compared to February 19, standing at RMB 4,113/mt ($579/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,872/mt ($545/mt), decreasing by RMB 71/mt ($10/mt) or 1.8 percent since February 19, while decreasing by 1.0 percent compared to the previous trading day (February 23).
$1 = RMB 7.108
