Mainstream ex-China steel plate offer prices from mills have been heard at $620-630/mt FOB for September shipment as of today, Monday, July 31, moving up by RMB 35/mt compared to July 24. Reference deal prices have been heard at $615/mt FOB to South America and Southeast Asia, remaining stable compared to July 24.
During the given week, steel plate prices in the Chinese domestic market have moved up amid declining production. At the same time, Chinese policymakers are showing their determination to boost the development of the real estate industry, exerting a positive impact on sentiments in the steel plate market. However, typhoon Doksuri has negatively affected the demand for steel plate. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 50/mt ($7/mt) compared to July 24, standing at RMB 4,107/mt ($568/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 31, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,084/mt ($573/mt), increasing by RMB 166/mt ($23.3/mt) or 4.2 percent since July 24, while down 0.22 percent compared to the previous trading day.
$1 = RMB 7.1305
