Mainstream ex-China steel plate offer prices from mills have been heard at $560/mt FOB for December shipment as of today, Monday, October 16, moving down by $22.5/mt compared to October 9. Reference deal prices have been heard at $555/mt FOB to South America and Southeast Asia, moving down by $20/mt compared to October 9.
During the given week, steel plate prices in the Chinese domestic market have moved down with demand not being as good as market players had expected. Some steel plate producers have gradually started to implement maintenance works, resulting in declining outputs. Following the previous decreases, steel plate prices have seen slower declines. Meanwhile, HRC futures prices have seen a rebounding trend over the past few trading days, which will bolster steel plate prices. It is thought that steel plate prices in the Chinese domestic market will likely move on a fluctuating trend in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 26/mt ($3.6/mt) compared to October 9, standing at RMB 3,817/mt ($532/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 16, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,772/mt ($525/mt), increasing by RMB 32/mt ($4.5/mt) or 0.86 percent since October 9, while up 1.32 percent compared to the previous trading day.
$1 = RMB 7.1798
