Mainstream ex-China steel plate offer prices from mills have been heard at $890-910/mt FOB for August shipment as of today, Monday, June 28, moving down by $15/mt on average compared to June 21. Though deals have been heard at $890-900/mt FOB to South America and Southeast Asia, amid uncertainty regarding export tax issue and the rainy weather in Southeast Asia, buyers in overseas markets have been cautious as regards concluding purchases of Chinese steel plate. The sluggish demand in the local market in China may weaken the support for steel plate prices.
During the given week, steel plate prices have declined significantly amid slack demand from downstream users. At the same time, bearish sentiments have prevailed among market players, exerting a negative impact on the steel plate market. Inventory of steel plate in China has risen slightly, negatively affecting prices. 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 lost RMB 107/mt ($16.6/mt) week on week to RMB 5,316/mt ($823/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,325/mt ($824/mt), increasing by RMB 155/mt ($24/mt) or 3.0 percent since June 21.
$1 = RMB 6.4578
