Mainstream ex-China steel plate offer prices from mills have been heard at $850-865/mt FOB for April shipment as of today, Monday, February 28, edging up by $2.5/mt compared to February 21. Reference deal prices have been heard at $845-855/mt FOB to South America and Southeast Asia, with the higher end up by $5/mt.
During the given week, local steel plate prices have indicated slight declines amid the ups and downs of ferrous metal futures prices and the prevailing bearish sentiments among market players. The demand for HRC has been slack, resulting in a slowing down of purchases from downstream users. It is thought that steel plate prices may move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 37/mt ($5.9/mt) week on week to RMB 5,113/mt ($809/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,952/mt ($783.3/mt), decreasing by RMB 7/mt ($1.1/mt) or 0.14 percent since February 21.
$1 = RMB 6.3222
