Mainstream ex-China steel plate offer prices from mills have been heard at $600/mt FOB for December shipment as of today, Monday, October 24, down by $10/mt compared to October 17. The weak local market and demand has led to a further decline in plate prices, making Chinese material among the most competitive in the overseas markets. Reference deal prices have been heard at $590/mt FOB to South America and Southeast Asia, also down by $10/mt over the past week, with some deals reported at this level.
During the given week, steel plate prices in the Chinese domestic market have moved down amid decreasing HRC futures prices and the prevailing bearish sentiments among market players. Lately, supply of steel plate has increased slightly, which has also exerted a negative impact on prices. It is thought that steel plate prices in the Chinese domestic market will likely continue their downtrend in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 53/mt ($7.4/mt) compared to October 17, standing at RMB 3,993/mt ($561/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,656/mt ($513.5/mt), decreasing by RMB 32/mt ($4.5/mt) or 0.87 percent since October 17.
$1 = RMB 7.1230
