Despite the increase local steel plate prices coupled with higher futures HRC prices, Chinese exporters of steel plate have decided to maintain their offers mainly unchanged over the past week given still slow demand recovery globally.
Mainstream ex-China steel plate offer prices from mills have been heard at $550-560/mt FOB for January shipment as of today, Monday, November 13, moving sideways on average compared to November 6. Reference deal prices have been heard at $550/mt FOB to South America and Southeast Asia, remaining stable compared to that recorded on November 6.
During the given week, steel plate prices in the Chinese domestic market have edged up amid the declining production outputs. The inventory of steel plate declined slightly, bolstering its prices. At the same time, demand for steel plate has been quite good, while some traders attempted to raise the prices. However, the weather is getting colder and colder, which might exert a negative impact on steel plate prices. It is thought that steel plate prices in the Chinese domestic market will likely move on a fluctuating trend within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 64/mt ($8.9/mt) compared to November 6, standing at RMB 3,977/mt ($554/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 13, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,962/mt ($542.5/mt), increasing by RMB 67/mt ($9.3/mt) or 1.7 percent since November 6, while down 0.35 percent compared to the previous trading day.
$1 = RMB 7.1769
