Mainstream ex-China steel plate offer prices from mills have been heard at $920-930/mt FOB for January shipment as of today, Monday, November 1, moving down by $12.5/mt on average compared to October 25, though reference deal prices have been heard at $905-910/mt FOB to South America and Southeast Asia.
During the given week, steel plate prices have indicated sharp declines amid the big decreases seen in ferrous metal futures prices in China and the bearish sentiments among market players. At the same time, downstream users have been cautious in concluding purchases of steel plate, which has also negatively affected prices. It is expected 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 140/mt ($22/mt) week on week to RMB 5,653/mt ($880.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,826/mt ($752/mt), decreasing by RMB 354/mt ($55.1/mt) or 6.8 percent since October 25.
$1 = RMB 6.4192
