Ex-China steel plate export prices have moved sideways over the past week following continuous fluctuations in HRC futures prices.
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 8, 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, the production of steel plate has been steady, resulting in sufficient supplies to the spot market, exerting a negative impact on prices. Inventories of steel plate have increased, negatively affecting prices. Demand for steel plate has been slack during the traditional cold winter offseason as construction activities have slowed down, especially in northern China. It is thought that steel plate prices in the Chinese domestic market may soften in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 4/mt ($0.6/mt) compared to December 1, standing at RMB 3,393/mt ($479/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 8, HRC futures at Shanghai Futures Exchange are standing at RMB 3,291/mt ($465/mt), decreasing by RMB 36/mt ($5.1/mt) or 1.1 percent since December 1, while down 1.02 percent compared to the previous trading day, December 5.
$1 = RMB 7.0764