Mainstream ex-China steel plate offer prices from mills have been heard at $580-585/mt FOB for October shipment as of today, Monday, August 28, moving sideways compared to August 21. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, remaining stable compared to August 21.
During the given week, steel plate prices in the Chinese domestic market have indicated a downtrend amid the slightly increasing production and rising inventory levels. Meanwhile, HRC futures prices have edged down, exerting a negative impact on steel plate market. At the same time, the consumption of steel plate weakened, resulting in downstream users’ unwillingness to conclude purchases. The cautious sentiments still prevailed among market players as there are three typhoons to affect China. It is expected that steel plate prices in the Chinese domestic market will likely bear downward pressure in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 24/mt ($3.3/mt) compared to August 21, standing at RMB 3,983/mt ($554/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,858/mt ($537/mt), decreasing by RMB 21/mt ($2.9/mt) or 0.54 percent since August 21, while down 1.38 percent compared to the previous trading day.
$1 = RMB 7.1856
