Mainstream ex-China steel plate offer prices from mills have been heard at $490-495/mt FOB for September shipment as of today, Monday, August 4, moving sideways on average as compared to July 28. The reference deal prices have been heard at $490/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to July 28.
During the given week, steel plate prices in the Chinese domestic market edged up first while moving down later as supplies arrived in bulk in the market by the end of the month, resulting in a slight increase in inventory levels. Speculative sentiments cooled down, exerting a negative impact on the steel plate market. Downstream users only purchased as needed, reflecting their cautious sentiments. It is thought that steel plate prices in the Chinese domestic market will edge down slightly in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 16/mt ($2.2/mt) compared to July 28, standing at RMB 3,497/mt ($490/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 4, HRC futures at Shanghai Futures Exchange are standing at RMB 3,417/mt ($479/mt), increasing by RMB 20/mt ($2.8/mt) since July 28, while up 0.26 percent compared to the previous trading day, August 1.
$1 = RMB 7.1395