Ex-China steel plate export prices have continued to move sideways given the continuous fluctuations in HRC futures prices, while local plate prices have increased only slightly over the past week.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for February shipment as of today, Monday, December 22, remaining stable compared to last week. Besides, reference deal prices have been heard at $470-485/mt FOB to South America, Africa and the Middle East.
During the given week, HRC futures prices have increased, positively affecting the steel plate market. However, demand for steel plate has been slack during the traditional cold winter offseason, resulting in cautious sentiments prevailing among market players, exerting a negative impact on steel plate prices. The third round of declines in coke prices has been implemented as of December 22, weakening the support for steel plate prices from the cost side. Some steel plate producers have been implementing maintenance works, reducing the supply to the spot market, which will bolster the prices to a certain degree.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 10/mt ($1.4/mt) compared to December 15, standing at RMB 3,377/mt ($478/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 22, HRC futures at Shanghai Futures Exchange are standing at RMB 3,277/mt ($464/mt), increasing by RMB 44/mt ($6.2/mt) or 1.4 percent since December 15, while up 0.28 percent compared to the previous trading day, December 19.
$1 = RMB 7.0572