Mainstream ex-China steel plate offer prices from mills have been heard at $495-500/mt FOB for January shipment as of today, Monday, November 25, moving down as compared to November 18. The reference deal prices have been heard at $495/mt FOB to South America, Africa and the Middle East, decreasing compared to November 18.
During the given week, steel plate prices in the Chinese domestic market have edged up amid the relatively low utilization rates on the producers’ side, which has reduced the supply to the spot market. Some specifications of steel plate have been in short supply, bolstering prices to a certain degree. Inventory of steel plate has been at relatively low levels, also providing some support for prices. However, cautious sentiments have started to dominate the market due to the coming cold weather. 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 gained RMB 16/mt ($2.2/mt) compared to November 18, standing at RMB 3,593/mt ($500/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,463/mt ($482/mt), decreasing by RMB 8/mt ($1.1/mt) or 0.2 percent since November 18, while down 0.32 percent compared to the previous trading day, November 22.
$1 = RMB 7.1918