Mainstream ex-China steel plate offer prices from mills have been heard at $480-490/mt FOB for May shipment as of today, Monday, March 10, decreasing by $10/mt on average as compared to March 3. The reference deal prices have been heard at $480-485/mt FOB to South America, Africa and the Middle East, also declining by $10/mt on average compared to March 3.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the slowdown in inventory consumption. Environmental protection in northern China resulted in more maintenance works at steel plate mills, which caused a reduction in steel plate production. Cautious sentiments have prevailed among market players due to decreasing HRC futures prices. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 27/mt ($3.8/mt) compared to March 3, standing at RMB 3,503/mt ($489/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 10, HRC futures at Shanghai Futures Exchange are standing at RMB 3,329/mt ($464/mt), decreasing by RMB 83/mt ($11.6/mt) or 2.4 percent since March 3, while down 0.89 percent compared to the previous trading day, March 7.
$1 = RMB 7.1733