Ex-China steel plate export prices have remained stable over the past week amid just slight changes in HRC futures prices. Market participants said that cautious sentiments have prevailed despite the uptick in raw material prices.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for January shipment as of today, Monday, November 24, remaining stable compared to last week. Besides, the reference deal prices are still at $470-485/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate prices in the Chinese domestic market have seen declines amid sufficient supply to the spot market. Inventories of steel plate have increased slightly, while demand has remained slack, resulting in decreasing prices. Raw material prices have risen, which will bolster steel plate prices from the cost side. Since the supply of steel plate is expected to remain at relatively high levels, prices may fluctuate within a limited range in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 13/mt ($1.8/mt) compared to November 17, standing at RMB 3,387/mt ($477/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,295/mt ($464/mt), decreasing by RMB 7/mt ($1.0/mt) or 0.2 percent since November 17, while up 0.67 percent compared to the previous trading day, November 21.
$1 = RMB 7.0847
