Ex-China steel plate export prices have moved sideways over the past week as stable local market and cost support have provided support, even though the market has faced slowdown of demand.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $525-535/mt FOB for August shipment as of today, Monday, June 15, remaining stable on average compared to June 8.
In SE Asia, offers for Q235B plates have been heard at $555-556/mt CFR to Vietnam, which is just $1-2/mt lower than a week before, signaling about generally stable market with only slight negative bias.
The lowest tradable prices from smaller mills and traders have been heard at $520-525/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid the slight changes in steel plate producers’ capacity utilization rates. There was supply shortage in some regions, bolstering steel plate prices to a certain degree. But demand for steel plate has been slack amid the insufficient commencement of new projects due to widespread rainy weather and controlling measures on construction sites due to college entrance examination and senior high school entrance examination. However, the increasing coking coal and coke prices provided certain support to steel plate prices from cost side. It is thought that steel plate in the Chinese domestic market will soften in the coming week.
Average 20 mm Q235 20 steel plate spot prices in China have remained stable compared to June 8, standing at RMB 3,530/mt ($518/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,397/mt ($499/mt), increasing by RMB 24/mt ($3.5/mt) or 0.7 percent since June 8, while increasing by 0.68 percent compared to the previous trading day, June 12.
$1 = RMB 6.8088
