Ex-China steel plate export prices have moved sideways over the past week amid the prevailing cautious sentiments among buyers. Market players have mostly held cautious sentiments as regards the future prospects for the steel plate market.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for January shipment as of today, Monday, December 1, remaining unchanged compared to last week. Besides, the reference deal prices are still at $470-485/mt FOB to South America, Africa and the Middle East.
The production of steel plate has been steady, resulting in sufficient supplies to the spot market, exerting a negative impact on prices. Inventories of steel plate have seen slight rises due to the slack demand from downstream users. Transaction activity for low-priced steel plate has been quite good, bolstering prices to a certain degree. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 10/mt ($1.4/mt) compared to November 24, standing at RMB 3,397/mt ($478.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,327/mt ($469/mt), increasing by RMB 32/mt ($4.5/mt) or 0.97 percent since November 24, while up 1.03 percent compared to the previous trading day, November 28.
$1 = RMB 7.0759
