Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for February shipment as of today, Monday, January 20, remaining stable on average as compared to January 13. The reference deal prices have been heard at $485-495/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to January 13.
During the given week, steel plate prices in the Chinese domestic market have moved up amid increasing HRC futures prices. Inventory levels of steel plate have declined, bolstering prices to a certain degree. Traders and downstream buyers have gradually been exiting the market as the Chinese New Year holiday (January 28-February 4) is approaching, which will slacken the demand for steel plate. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved up by RMB 47/mt ($6.5/mt) compared to January 13, standing at RMB 3,540/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,472/mt ($483/mt), increasing by RMB 115/mt ($16/mt) since January 13, while up 0.29 percent compared to the previous trading day, January 17.
$1 = RMB 7.1886
