Mainstream ex-China steel plate offer prices from mills have been heard at $580-585/mt FOB for November shipment as of today, Monday, September 11, moving sideways compared to September 4. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, stable compared to September 4.
During the given week, steel plate prices in the Chinese domestic market have indicated a downtrend amid increasing inventory levels. Downstream users have been less willing to conclude purchases of steel plate due to the prevailing cautious sentiments among market players. Currently, market players have not seen improved demand in the peak season of September, which has exerted a negative impact on the steel plate market. It is expected that steel plate prices in the Chinese domestic market will come under downward pressure in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 50/mt ($6.9/mt) compared to September 4, standing at RMB 3,963/mt ($549/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 11, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,851/mt ($534/mt), decreasing by RMB 66/mt ($9.1/mt) or 1.7 percent since September 4, while up 0.21 percent compared to the previous trading day.
$1 = RMB 7.2148
