Mainstream ex-China steel plate offer prices from mills have been heard at $475-485/mt FOB for June shipment as of today, Monday, May 26, moving sideways on average as compared to May 19. The reference deal prices have been heard at $475-480/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to May 19.
During the given week, steel plate prices have edged down amid decreasing HRC futures prices and the absence of speculative demand. Downstream users have mostly been purchasing in line with their needs, resulting in the limited acceptance of high-priced steel plate. Cautious sentiments have prevailed among market players. It is thought that steel plate prices in the Chinese domestic market will move on a fluctuating trend within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 27/mt ($3.8/mt) compared to May 19, standing at RMB 3,530/mt ($490/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,138/mt ($436/mt), decreasing by RMB 69/mt ($9.6/mt) or 2.15 percent since May 19, while down 2.03 percent compared to the previous trading day, May 23.
$1 = RMB 7.1833
