Mainstream ex-China steel plate offer prices from mills have been heard at $910-920/mt FOB for May shipment as of today, Monday, March 28, moving up by $10/mt compared to March 21. Reference deal prices have been heard at $900-910/mt FOB to South America and Southeast Asia, around $20/mt higher over the past week.
Higher demand for plates in the international market and some restrictions on supply from China may continue to support ex-China prices in the coming week.
During the given week, steel plate prices in the Chinese domestic market have increased amid the limited supplies due to the strict control measures against the worsening Covid-19 pandemic in many regions of China and amid increasing HRC futures prices. Currently, inventory of steel plates is at relatively normal level, while sellers have been unwilling to sell, which has bolstered prices. It is thought that steel plate prices may move up in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved up by RMB 54/mt ($8.5/mt) week on week to RMB 5,220/mt ($819/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,304/mt ($833/mt), rising by RMB 172/mt ($27/mt) or 3.4 percent since March 21.
$1 = RMB 6.3732
