Ex-China steel plate export prices have moved up over the past two weeks.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $525-535/mt FOB for July shipment as of today, Monday, May 11, increasing by $15-20/mt compared to April 27. Besides, the reference deal prices have been heard at $520-525/mt FOB to South America, Africa and the Middle East, up $15-20/mt compared to April 27.
During the given period, steel plate prices in the Chinese domestic market have moved on an uptrend amid increasing HRC futures prices. Meanwhile, major Chinese steelmaker Baosteel has raised its local base price for steel plate prices by RMB 100/mt ($15/mt) for delivery in June, bolstering market sentiments. At the same time, the tight supply of steel plate has exerted a positive impact on prices. Moreover, the increases in iron ore and coke prices have provided solid support for steel plate prices. In addition, the inventory of steel plate has been at relatively low levels, positively affecting prices. It is thought that steel plate prices will likely move sideways in the coming week.
Average 20 mm Q235 steel plate spot prices in China have gained RMB 117/mt ($17/mt) compared to April 27, standing at RMB 3,600/mt ($525.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,497/mt ($510.5/mt), increasing by RMB 103/mt ($15/mt) or 3.0 percent since April 27, while rising by 0.34 percent compared to the previous trading day, May 8.
$1 = RMB 6.8582
