Mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for August shipment as of today, Monday, June 12, remaining stable compared to June 5. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, also remaining stable compared to June 5.
During the given week, steel plate prices in the Chinese domestic market have edged down amid increasing production output and slack demand from downstream users. Bearish sentiments have prevailed among market players, negatively affecting the steel plate market. However, inventory of steel plate has been at relatively low levels, providing support for prices. It is thought 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 lost RMB 20/mt ($2.8/mt) compared to June 5, standing at RMB 4,050/mt ($569/mt) ex-warehouse, according to SteelOrbis’ information.
As of Jun 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,763/mt ($528/mt), decreasing by RMB 2/mt ($4.3/mt) or 0.05 percent since June 5, while down 0.82 percent compared to the previous trading day (June 11).
$1 = RMB 7.1212
