Ex-China steel plate export prices have remained stable over the past week though sentiments have been more negative than positive amid declining HRC futures prices and the seasonal demand slowdown.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for February shipment as of today, Monday, December 15, moving sideways compared to last week. Besides, the reference deal prices have been heard at $470-485/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate producers’ capacity utilization rates have been steady, and so supply to the market has been sufficient, negatively affecting prices. Demand for steel plate has been slack during the traditional cold winter offseason, resulting in weak inventory consumption and weakening the support for prices. Traders are mostly cautious as regards the future prospects for the steel plate market and so they have been unwilling to build up stocks, which has exerted a negative impact on prices.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 26/mt ($3.7/mt) compared to December 8, standing at RMB 3,367/mt ($476/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,233/mt ($457/mt), decreasing by RMB 58/mt ($8.2/mt) or 1.8 percent since December 8, while down 0.15 percent compared to the previous trading day, December 12.
$1 = RMB 7.0656