Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for August shipment as of today, Monday, July 7, moving sideways on average as compared to June 30. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, also remaining unchanged on average compared to June 30.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid stable production on the producers’ side. Inventories of steel plate have seen slight rises amid the slack demand from downstream users, weakening the support for prices. However, HRC futures prices have moved up amid the news of production reductions in Tangshan, the major steelmaking hub in China, bolstering market sentiments to a certain degree. It is thought that steel plate prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 3/mt ($0.4/mt) compared to June 30, standing at RMB 3,370/mt ($471/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 7, HRC futures at Shanghai Futures Exchange are standing at RMB 3,191/mt ($446/mt), increasing by RMB 68/mt ($9.5/mt) or 2.2 percent since June 30, while down 0.62 percent compared to the previous trading day, June 4.
$1 = RMB 7.1506
