Mainstream ex-China steel plate offer prices from mills have been heard at $510-515/mt FOB for September shipment as of today, Monday, July 29, moving down by $10/mt on average as compared to July 22. The reference deal prices have been heard at $505-510/mt FOB to South America, Africa and the Middle East, also decreasing by $10/mt on average compared to July 22.
During the given week, steel plate prices in the Chinese domestic market have moved down amid decreasing ferrous metal futures prices. Bearish sentiments have prevailed among market players and so most traders have reduced their offer prices for steel plate. The transaction activities for steel plate have slowed down, reflecting the slack demand from downstream users. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 90/mt ($12.6/mt) compared to July 22, standing at RMB 3,553/mt ($498/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,524/mt ($494/mt), decreasing by RMB 110/mt ($15.6/mt) or 3.0 percent since July 22, while down 1.18 percent compared to the previous trading day, July 26.
$1 = RMB 7.1316
