Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for February shipment as of today, Monday, February 10, remaining stable on average as compared to January 27. 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 27.
During the given week, steel plate prices in the Chinese domestic market have edged up slightly as downstream users have gradually come back to the market from the long holiday. Inventory levels of steel plate have indicated slight rises as supplies arriving in the market increased following the holiday. The demand for steel plate is expected to improve in the coming period. It is expected that steel plate prices in the Chinese domestic market will rebound further in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 3/mt ($0.4/mt) compared to January 27, standing at RMB 3,537/mt ($493/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 10, HRC futures at Shanghai Futures Exchange are standing at RMB 3,436/mt ($479/mt), decreasing by RMB 49/mt ($6.8/mt) since January 27, while down 0.49 percent compared to the previous trading day, February 7.
$1 = RMB 7.1707