Export prices for Chinese steel plate have remained stable over the past week due to fluctuating HRC futures prices.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for December shipment as of today, Monday, November 3, moving sideways week on week. Besides, the reference deal prices have been heard at $470-485/mt FOB to South America, Africa and the Middle East, remaining unchanged on average compared to October 27.
During the given week, HRC futures prices have fluctuated within a limited range, affecting market sentiments. Some sellers chose to sell at lower prices to stimulate transaction activities, while downstream users have been reluctant to conclude purchases of steel plate. At the same time, inventories of steel plate have been at relatively high levels, exerting a negative impact on prices. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 3/mt ($0.4/mt) compared to October 27, standing at RMB 3,427/mt ($483/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,295/mt ($464/mt), decreasing by RMB 4/mt ($0.6/mt) or 0.1 percent since October 27, while down 0.6 percent compared to the previous trading day, October 31.
$1 = RMB 7.0867
