Mainstream ex-China steel plate offer prices from mills have been heard at $475-485/mt FOB for May shipment as of today, Monday, March 24, moving sideways on average as compared to March 17. The reference deal prices have been heard at $475-480/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to March 17.
During the given week, steel plate prices in the Chinese domestic market have risen slightly amid increasing HRC futures prices and improved market sentiments. As the weather gets warmer and warmer, demand from downstream users is anticipated to improve, bolstering market players’ confidence as regards the future prospects for 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 20/mt ($2.8/mt) compared to March 17, standing at RMB 3,543/mt ($494/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,396/mt ($474/mt), increasing by RMB 10/mt ($1.4/mt) or 0.3 percent since March 17, while up 1.28 percent compared to the previous trading day, March 21.
$1 = RMB 7.1688
