Mainstream ex-China steel plate offer prices from mills have been heard at $590-600/mt FOB for February shipment as of today, Monday, December 19, moving sideways compared to December 12. Reference deal prices have been heard at $580-590/mt FOB to South America and Southeast Asia, increasing by from $570-585/mt FOB last week.
During the given week, steel plate prices have edged up slightly, while prices indicated declines on December 19 amid the big decreases in HRC futures prices. Demand for steel plate has not been as good as market players had expected amid the prevailing cautious sentiments among market players. The steel plate arriving in the spot market decreased during the given week, resulting in some supply shortages, providing support for prices. However, the big decrease in HRC futures prices on December 19 reflected market participants’ cautious sentiments, which may negatively affect the steel plate market in the near future. It is expected that steel plate prices in the Chinese domestic market will likely move sideways or edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 20/mt ($2.9/mt) compared to December 12, standing at RMB 4,156/mt ($596/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,981/mt ($571/mt), decreasing by RMB 55/mt ($7.9/mt) or 1.4 percent since December 12.
$1 = RMB 6.9746
