Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for July shipment as of today, Monday, June 16, moving sideways on average as compared to June 9. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to June 9.
During the given period, steel plate prices have moved sideways amid the prevailing cautious sentiments among market players. Demand for steel plate remained sluggish as it is the traditional offseason. The widespread rainy weather will continue in the lower and middle reaches of the Yangtze River, while the temperature will be higher, which will further slacken the demand for steel plate. It is thought that steel plate prices in the Chinese domestic market will edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 46/mt ($6.4/mt) compared to June 9, standing at RMB 3,427/mt ($476/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 16, HRC futures at Shanghai Futures Exchange are standing at RMB 3,104/mt ($431/mt), increasing by RMB 9/mt ($1.25/mt) or 0.3 percent since June 9, while up 1.07 percent compared to the previous trading day, June 13.
$1 = RMB 7.1789