Mainstream ex-China steel plate offer prices from mills have been heard at $560/mt FOB for December shipment as of today, Monday, October 23, moving sideways compared to October 16. Reference deal prices have been heard at $555/mt FOB to South America and Southeast Asia, remaining stable compared to October 16.
During the given week, cautious sentiments have prevailed among market players, resulting in buyers’ unwillingness to conclude purchases of steel plate. Steel plate producers have been less willing to produce, while some of them have implemented maintenance works, contributing to declining outputs. HRC futures prices have moved on a downtrend, exerting a negative impact on the steel plate market. The relatively firm raw material prices have bolstered steel plate prices from the cost side. 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 44/mt ($6.1/mt) compared to October 16, standing at RMB 3,773/mt ($525.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,706/mt ($516/mt), decreasing by RMB66/mt ($9.2/mt) or 1.75 percent since October 16, while down 1.12 percent compared to the previous trading day.
$1 = RMB 7.1792
