Mainstream ex-China steel plate offer prices from mills have been heard at $550-570/mt FOB for July shipment as of today, Monday, May 20, moving sideways on average as compared to May 13. The reference deal prices have been heard at $550-555/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to May 13.
During the given week, steel plate prices in the Chinese domestic market have seen slight rises amid decreasing production as some producers implemented maintenance works. Recently, China issued several stimulus policies to boost the weak real estate industry, which exerted a positive impact on market sentiments. Ferrous metal futures prices are likely to edge up, which will positively affect the steel plate market. It is expected that steel plate prices in the Chinese domestic market will edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 6/mt ($0.8/mt) compared to May 13, standing at RMB 3,923/mt ($552.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,865/mt ($544/mt), increasing by RMB 45/mt ($6.3/mt) or 1.2 percent since May 13, while up 0.47 percent compared to the previous trading day, May 17.
$1 = RMB 7.1042
