Mainstream ex-China steel plate offer prices from mills have been heard at $580-585/mt FOB for October shipment as of today, Monday, September 4, remaining stable compared to August 28. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, remaining stable compared to August 28.
During the given week, steel plate prices in the Chinese domestic market have moved up amid declining capacity utilization rates and decreasing production. At the same time, market sentiments have improved to some degree as many cities, especially first-tier cities like Beijing and Shanghai have loosened their restrictions on property purchases. However, demand for steel plate has not seen significant improvement yet, though this situation may change in the coming period. It is thought that steel plate pries in the Chinese domestic market may edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 30/mt ($4.2/mt) compared to August 28, standing at RMB 4,013/mt ($559/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 4, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,917/mt ($545.5/mt), increasing by RMB 59/mt ($8.2/mt) or 1.53 percent since August 28, while up 0.2 percent compared to the previous trading day.
$1 = RMB 7.1786
