Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for August shipment as of today, Monday, July 14, remaining stable on average as compared to July 7. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to July 7.
During the given week, steel plate prices in the Chinese domestic market have risen amid relatively low inventories. Recently, the relevant government departments have issued statement regarding restricting unorganized competition among enterprises, which may result in supply-side reform, bolstering market sentiments firmly. However, due to the traditional off-season for the steel industry, demand has remained sluggish, weakening the support for steel plate prices. It is thought that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 20/mt ($2.8/mt) compared to July 7, standing at RMB 3,390/mt ($474/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,276/mt ($458/mt), increasing by RMB 85/mt ($11.9/mt) or 2.7 percent since July 7, while up 0.09 percent compared to the previous trading day, June 11.
$1 = RMB 7.1491
