Mainstream ex-China steel plate offer prices from mills have been heard at $585-595/mt FOB for September shipment as of today, Monday, July 10, moving sideways compared to July 3. Reference deal prices have been heard at $580/mt FOB to South America and Southeast Asia, remaining stable compared to July 3.
During the given week, HRC prices in the Chinese domestic market have edged down amid the increasing production and rising inventory levels. At the same time, downstream users have been unwilling to conclude purchases for steel plate amid the hot weather in summer. The decreasing HRC futures prices exerted a negative impact on steel plate market. Moreover, import iron ore prices have seen declines, weakening the support to steel plate prices from cost side. It is expected that steel plate prices in the Chinese domestic market will likely edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 33/mt ($4.6/mt) compared to July 3, standing at RMB 4,033/mt ($560/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 10, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,757/mt ($522/mt), decreasing by RMB101/mt ($14.0/mt) or 2.6 percent since July 3, while down 1.73 percent compared to the previous trading day.
$1 = RMB 7.1926
