Mainstream ex-China steel plate offer prices from mills have been heard at $475-485/mt FOB for June shipment as of Monday, May 12, moving sideways on average as compared to April 28. However, some large mills have been targeting higher numbers of $485-495/mt FOB, following the rises in futures prices early this week. The latest deal prices for small volumes were at $475-480/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate prices in the Chinese domestic market have seen slight declines amid the declines seen in HRC futures prices during the week. Arrivals of steel plate in the market have continued to increase, resulting in accumulating inventories. Downstream users’ restocking activities following the Labor Day holiday have not been as good as had been expected, exerting a negative impact on steel plate prices. However, on May 12, the US-China trade negotiations made substantial progress, which will positively affect steel plate prices. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week, but with some positive bias.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 13/mt ($1.8/mt) compared to April 28, standing at RMB 3,560/mt ($494/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 13, HRC futures at Shanghai Futures Exchange are standing at RMB 3,215/mt ($444/mt), increasing by RMB 19/mt ($2.6/mt) or 0.6 percent since May 6, while up 0.78 percent compared to the previous trading day, May 6.
$1 = RMB 7.1991