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 18, remaining stable compared to September 11. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, moving sideways compared to September 11.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid increasing inventory levels and declining capacity utilization rates of steel mills. Steel plate producers have been less willing to produce as demand has not improved to the level they had expected. Cautious sentiments have prevailed among market players, which may affect the steel plate market. However, since the long National Day holiday (September 29-October 6) is approaching, downstream users may build up stocks, which will bolster steel plate prices to a certain degree. It is thought that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have remained stable compared to September 11, standing at RMB 3,963/mt ($553/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 18, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,903/mt ($544/mt), increasing by RMB 52/mt ($7.3/mt) or 1.4 percent since September 11, while up 0.31 percent compared to the previous trading day.
$1 = RMB 7.1736
