Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for April shipment as of today, Monday, March 3, remaining stable on average as compared to February 24. The reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to February 24.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid steel plate producers’ maintenance works. More steel plate producers will implement maintenance in March, which will reduce output and bolster prices to a certain degree. Demand for steel plate from downstream users has improved gradually, exerting a positive impact on prices. Moreover, bullish sentiments have prevailed among market players with the Two Sessions conferences due to be held in Beijing. It is thought that steel plate prices in the Chinese domestic market will likely increase in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 3/mt ($0.4/mt) compared to February 24, standing at RMB 3,530/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,412/mt ($476/mt), decreasing by RMB 19/mt ($2.6/mt) or 0.55 percent since February 24, while remaining stable compared to the previous trading day, February 28.
$1 = RMB 7.1745