Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for November shipment as of today, Monday, September 1, moving sideways compared to August 25. However, the reference deal prices have been heard at $485-490/mt FOB to South America, Africa and the Middle East, edging down by $5/mt on the lower end of range compared to August 25.
During the given week, steel plate prices in the Chinese domestic market have seen further declines amid the decreasing HRC futures prices. Though some steel plate producers have received notice to cut their production outputs in late August to early September, the time was short, which will not reduce the output significantly. Meanwhile, demand for steel plate has been slack as market players mostly held a wait-and-see stance amid the increasing inventories. It is expected that steel plate prices in the Chinese domestic market might 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 August 25, standing at RMB 3,493/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,303/mt ($477/mt), decreasing by RMB 86/mt ($4.2/mt) or 2.5 percent since August 25, while down 1.58 percent compared to the previous trading day, August 29.
$1 = RMB 7.1072
