Ex-China steel plate export prices have moved sideways over the past week.
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 12, 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, HRC futures prices have increased as some production lines have been implementing maintenance works. The pressure from steel plate supply has not increased significantly, while the sluggish demand from downstream users during the traditional cold winter offseason has exerted a negative impact on prices. Commodities prices have surged lately, bolstering sentiments among market players. However, the slack demand might weaken the support for the steel plate market. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 16/mt ($2.3/mt) compared to January 5, standing at RMB 3,363/mt ($480/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 12, HRC futures at Shanghai Futures Exchange are standing at RMB 3,311/mt ($472/mt), increasing by RMB 63/mt ($9/mt) or 1.9 percent since January 5, while up 0.55 percent compared to the previous trading day, January 9.
$1 = RMB 7.0108
