Mainstream ex-China steel plate offer prices from mills have been heard at $620/mt FOB for July shipment as of today, Monday, May 8, moving down by $40/mt compared to April 24. Reference deal prices have been heard at $610/mt FOB to South America and Southeast Asia, also declining by $40/mt compared to April 24.
During the given week, steel plate prices in the Chinese domestic market have moved down. Meanwhile, the inventory levels of steel plate have increased due to pressure from the supply side. At the same time, demand has not seen any improvement amid cautious sentiments among market players. However, bolstered by the declining trend seen in the average aggregate daily crude steel output of large and medium-sized steel enterprises in China - all CISA members during late April (April 21-30), which totaled 2.029 million mt, down 3.63 percent compared to mid-April, HRC futures prices have indicated a sharp rise of 5.07 percent on May 8 compared to the previous trading day. 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 lost RMB 96/mt ($14.0/mt) compared to April 24, standing at RMB 4,217/mt ($609/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,812/mt ($551/mt), rising by RMB 91/mt ($13.2/mt) or 2.4 percent since April 28, while up 5.07 percent compared to the previous trading day (May 5).
$1 = RMB 6.9158
