Mainstream ex-China steel plate offer prices from mills have been heard at $580-585/mt FOB for November shipment as of today, Monday, September 25, moving sideways compared to September 18. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, remaining stable compared to September 18.
During the given week, steel plate prices in the Chinese domestic market have moved down amid increasing production and rising inventory levels. Demand for steel plate has been slack, failing to indicate the expected improvement. Though the long National Day holiday (September 29-October 6) is approaching, bearish sentiments have prevailed among traders, which will negatively affect the steel plate market. It is expected that steel plate prices in the Chinese domestic market will likely come under downward pressure in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 36/mt ($5/mt) compared to September 18, standing at RMB 3,927/mt ($548/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,812/mt ($532/mt), decreasing by RMB 91/mt ($12.7/mt) or 2.3 percent since September 18, while down 1.09 percent compared to the previous trading day.
$1 = RMB 7.1727