Mainstream ex-China steel plate offer prices from mills have been heard at $540-560/mt FOB for May shipment as of today, Monday, April 22, remaining stable on average as compared to April 15. The reference deal prices have been heard at $540-545/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to April 15.
During the given week, steel plate prices in the Chinese domestic market have increased amid decreasing inventory levels. Deliveries of steel plate to the spot market have not risen significantly, easing the pressure on market players. At the same time, demand for steel plate has improved to a certain degree, exerting a positive impact on prices. Prices of raw materials, including import iron ore and coke, have increased, bolstering steel plate prices from the cost side. It is thought that steel plate prices in the Chinese domestic market will likely edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have risen by RMB 44/mt ($6.2/mt) compared to April 15, standing at RMB 3,917/mt ($552/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 22, HRC futures at Shanghai Futures Exchange are standing at RMB 3,817/mt ($538/mt), increasing by RMB 37/mt ($5.2/mt) or 1.0 percent since April 15, while down 0.65 percent compared to the previous trading day, April 19.
$1 = RMB 7.1043
