Mainstream ex-China steel plate offer prices from mills have been heard at $560-570/mt FOB for January shipment as of today, Monday, November 20, increasing by $10/mt on average compared to November 13. Reference deal prices have been heard at $560/mt FOB to South America and Southeast Asia, up by $10/mt compared to November 13.
During the given week, steel plate prices in the Chinese domestic market have seen an increasing trend amid the slight rise in production costs. The supply shortage has eased, while downstream users and traders have been cautious as regards concluding purchases of steel plate. Though increasing raw material prices will bolster steel plate prices from the cost side, the pressure from the increasing output may exert a negative impact on prices. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 46/mt ($6.4/mt) compared to November 13, standing at RMB 4,023/mt ($562/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 20, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,047/mt ($565/mt), increasing by RMB 85/mt ($11.9/mt) or 2.15 percent since November 13, while up 0.17 percent compared to the previous trading day.
$1 = RMB 7.1612
