Mainstream ex-China steel plate offer prices from mills have been heard at $505-510/mt FOB for January shipment as of today, Monday, November 4, moving down by $10/mt on average as compared to October 28. The reference deal prices have been heard at $505/mt FOB to South America, Africa and the Middle East, declining by $10/mt on average compared to October 28.
During the given week, HRC futures prices have moved on a downtrend, negatively affecting steel plate prices. Although production of steel plate has decreased slightly, inventories of steel plate have risen, reflecting slack demand, which has weakened the support for prices. Cautious sentiments have prevailed among market players, exerting a negative impact on steel plate prices. 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 33/mt ($4.6/mt) compared to October 28, standing at RMB 3,617/mt ($508/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 4, HRC futures at Shanghai Futures Exchange are standing at RMB 3,584/mt ($503/mt), decreasing by RMB 31/mt ($4.4/mt) or 0.9 percent since October 28, while up 0.5 percent compared to the previous trading day, November 1.
$1 = RMB 7.1203
