Mainstream ex-China steel plate offer prices from mills have been heard at $520-525/mt FOB for September shipment as of today, Monday, July 22, moving sideways on average as compared to July 15. The reference deal prices have been heard at $515-520/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to July 15.
During the given week, steel plate prices in the Chinese domestic market have declined amid the slack demand from downstream users. Steel plate producers’ capacity utilization rates have been at relatively high levels, exerting a negative impact on prices from the supply side. HRC futures prices have moved down, also weakening the support for the steel plate market. 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 54/mt ($7.6/mt) compared to July 15, standing at RMB 3,643/mt ($511/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 22, HRC futures at Shanghai Futures Exchange are standing at RMB 3,634/mt ($510/mt), decreasing by RMB 100/mt ($14/mt) or 2.7 percent since July 15, while down 0.74 percent compared to the previous trading day, July 19.
$1 = RMB 7.1335
