Although both local steel plate and HRC futures prices have recovered over the past week, mainstream ex-China steel plate offer prices from mills have been heard at $585-595/mt FOB for September shipment as of today, Monday, July 24, moving sideways compared to July 17. Reference deal prices have been heard at $580/mt FOB to South America and Southeast Asia, remaining stable compared to July 17.
During the given week, steel plate prices in the Chinese domestic market have moved up amid declining production. At the same time, inventory of steel plate has indicated rises, exerting a negative impact on prices. However, raw material prices have increased, bolstering steel plate prices from the cost side and positively affecting market sentiment. It is expected that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 27/mt ($3.8/mt) compared to July 17, standing at RMB 4,057/mt ($568/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,918/mt ($548/mt), increasing by RMB 127/mt ($17.8/mt) or 3.4 percent since July 17, while up 0.51 percent compared to the previous trading day.
$1 = RMB 7.1451