Following a sharp drop in ex-China steel plate prices last week, this week mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for October shipment as of today, Monday, August 26, moving up by $7.5/mt on average as compared to August 19. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, rising by $10/mt on average compared to August 19.
During the given week, steel plate prices in the Chinese domestic market have seen increases amid the decreasing supply to the spot market. Inventory of steel plate decreased slightly, bolstering its prices to a certain degree, though which still stood at relatively high level. HRC futures prices have seen rises over the past week, exerting a positive impact on steel plate prices. However, coke prices have indicated a sixth-round of decline in the given week, weakening the support to steel plate prices.
Average Q235 20 mm steel plate spot prices in China have gained RMB 56/mt ($8/mt) compared to August 19, standing at RMB 3,273/mt ($460/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,328/mt ($468/mt), increasing by RMB 152/mt ($21/mt) or 4.8 percent since August 19, while up 2.72 percent compared to the previous trading day, August 23.
$1 = RMB 7.1139
