Ex-China steel plate export prices have kept moving sideways over the past week given the lack of any significant changes in the local plate market, while HRC futures prices have continued to fluctuate.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for March shipment as of today, Monday, January 26, remaining stable 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 prices in the Chinese domestic market have edged down slightly amid sufficient supply arriving in the spot market. Demand for steel plate from downstream users has been slack, which has exerted a negative impact on prices. Meanwhile, traders have been unwilling to build up stocks for the winter season, weakening the support for steel plate prices. In addition, cautious sentiments have prevailed among market players, which will negatively affect steel plate prices in the near future. It is thought that steel plate prices in the Chinese domestic market will likely soften in the coming week.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 7/mt ($1/mt) compared to January 19, standing at RMB 3,360/mt ($480/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,302/mt ($472/mt), increasing by RMB 3/mt ($0.4/mt) or 0.9 percent since January 19, while up 0.12 percent compared to the previous trading day, January 23.
$1 = RMB 6.9843
