Ex-China steel plate export prices have moved sideways over the past week despite weaker local prices for steel plate coupled with worse sentiments in the HRC futures market in China.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for March shipment as of today, Monday, February 9, remaining stable compared to last week. Besides, the reference deal prices have been heard 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 edged down slightly amid stable outputs and slack demand from downstream users. Inventories of steel plate have increased, exerting a negative impact on prices. Only a few processing plants have concluded purchases of steel plate ahead of the Chinese New Year holiday (February 14-23), in order to ensure their deliveries of products. Most market players have chosen to reduce inventories to avoid potential risks. It is thought that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average 20 mm Q235 steel plate spot prices in China have lost RMB 4/mt ($0.6/mt) compared to February 2, standing at RMB 3,343/mt ($481/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 9, HRC futures at Shanghai Futures Exchange are standing at RMB 3,239/mt ($466/mt), decreasing by RMB 22/mt ($6/mt) or 0.7 percent since February 2, while down 0.55 percent compared to the previous trading day, February 6.
$1 = RMB 6.9523
