Mainstream ex-China steel plate offer prices from mills have been heard at $595-605/mt FOB for April shipment as of today, Monday, February 19, moving up by $15/mt on average as compared to February 5. The reference deal prices have been heard at $590-595/mt FOB to South America, Africa, and the Middle East, also up by $15/mt compared to the prices seen ahead of the Chinese New Year holiday.
Steel plate prices in the Chinese domestic market have seen slight rises as well, while transaction activities have not improved significantly as some market players are not yet back in the market after the long holiday. Steel plate producers’ capacity utilization rates have been at relatively low levels amid maintenance works. Inventory of steel plate has risen during the holiday, while market players think demand may improve soon. It is expected 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 37/mt ($5.2/mt) compared to February 5, standing at RMB 4,160/mt ($586/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,943/mt ($559/mt), decreasing by RMB 28/mt ($4/mt) or 0.7percent since February 5.
$1 = RMB 7.1032
