Ex-China steel plate export prices have remained stable over the past week.
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 2, moving sideways 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 amid increasing inventories. Since the Chinese New Year holiday (February 14-23) is approaching, some market players started to leave the market, exerting a negative impact on steel plate prices. Moreover, due to the significant decreases in gold and silver prices, market sentiments have dampened. HRC futures prices have seen declines, weakening the support for steel plate prices to a certain degree.
Average 20 mm Q235 20 steel plate spot prices in China have lost RMB 13/mt ($1.9/mt) compared to January 26, standing at RMB 3,347/mt ($480/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,261/mt ($468/mt), decreasing by RMB 41/mt ($6/mt) or 1.2 percent since January 26, while down 1.24 percent compared to the previous trading day, January 30.
$1 = RMB 6.9695
