Mainstream ex-China steel plate offer prices from mills have been heard at $670/mt FOB for September shipment as of today, Monday, August 1, moving sideways compared to July 25. The rebound seen in the local Chinese market has improved sentiments in the export market too, though overall trading has remained limited. Reference deal prices have been heard at $660/mt FOB to South America and Southeast Asia, stable from last week, while discounts of $10/mt are still possible for firm bids.
During the given week, steel plate prices in the Chinese domestic market have seen big rises amid improved market sentiments. Meanwhile, billet prices have edged up, exerting a positive impact on finished steel prices. At the same time, China has issued policies to boost economic development, which have gradually been taking effect, and so market players expect better demand for steel plate in the near future. 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 moved up by RMB 150/mt ($22/mt) compared to July 25, standing at RMB 4,226/mt ($626/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,042/mt ($599/mt), rising by RMB 185/mt ($27/mt) or 4.8 percent since July 25.
$1 = RMB 6.7467
