Mainstream ex-China steel plate offer prices from mills have been heard at $570-580/mt FOB for February shipment as of today, Monday, December 18, remaining stable on average as compared to December 11. In the meantime, reference deal prices have been heard at $565/mt FOB to South America and Southeast Asia, moving sideways compared to December 11.
During the given week, steel plate prices in the Chinese domestic market have declined amid the prevailing wait-and-see stance among market players. At the same time, the widespread snowy and rainy weather conditions in China have exerted a negative impact on the steel plate market. However, coke prices have indicated further rises, bolstering steel plate prices from the cost side. Demand for steel plate may slacken further in the coming week, weakening the support for prices.
Average Q235 20 mm steel plate spot prices in China have lost RMB 20/mt ($2.8/mt) compared to December 11, standing at RMB 4,080/mt ($575/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 18, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,024/mt ($567/mt), decreasing by RMB 98/mt ($13.8/mt) or 2.4 percent since December 11, while down 0.57 percent compared to the previous trading day.
$1 = RMB 7.0933
