Mainstream ex-China steel plate offer prices from mills have been heard at $580-585/mt FOB for December shipment as of today, Monday, October 9, remaining stable compared to September 25. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, moving sideways compared to September 25.
During the given week, steel plate prices in the Chinese domestic market have moved down amid decreasing production activities and increasing inventory levels. Due to the long National Day holiday, consumption of steel plate has been slack, while demand will likely improve in the coming week. Market players think steel plate prices may fluctuate within a limited range in the coming week, though future developments will depend on the release of demand in the coming period.
Average Q235 20 mm steel plate spot prices in China have lost RMB 84/mt ($12/mt) compared to September 25, standing at RMB 3,843/mt ($535/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 9, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,740/mt ($521/mt), decreasing by RMB 72/mt ($10/mt) or 1.9 percent since September 25, while down 1.53 percent compared to the previous trading day.
$1 = RMB 7.1789