Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for November shipment as of today, Monday, September 8, moving sideways on average as compared to September 1. The reference deal prices have been heard at $485-490/mt FOB to South America, Africa and the Middle East, remaining stable on average compared to September 1.
During the given week, steel plate prices in the Chinese domestic market have edged down slightly amid the sluggish demand from downstream users. At the same time, coke prices have indicated decreases, weakening steel prices from the cost side. However, some steel plate producers have implemented maintenance works, causing production to decline slightly, bolstering prices 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 lost RMB 27/mt ($3.8/mt) compared to August 25, standing at RMB 3,493/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 8, HRC futures at Shanghai Futures Exchange are standing at RMB 3,352/mt ($472/mt), increasing by RMB 49/mt ($6.9/mt) or 1.5 percent since September 1, while up 0.96 percent compared to the previous trading day, September 5.
$1 = RMB 7.1029
