Mainstream ex-China steel plate offer prices from mills have been heard at $495-505/mt FOB for January shipment as of today, Monday, December 16, moving up by $5/mt on average as compared to December 9. The reference deal prices have been heard at $495-500/mt FOB to South America, Africa and the Middle East, also up by $5/mt over the past week.
During the given week, steel plate prices in the Chinese domestic market have edged up amid steelmakers’ output reductions. However, traders have been unwilling to buy steel plate, resulting in slight rises in inventory levels, which, however, remain at a relatively low level. Market sentiments have been bolstered by the stimulus policies of the central government, which will exert a positive impact on steel plate prices. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved up by RMB 17/mt ($2.4/mt) compared to December 9, standing at RMB 3,630/mt ($505/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 16, HRC futures at Shanghai Futures Exchange are standing at RMB 3,493/mt ($486/mt), increasing by RMB 7/mt ($1/mt) or 0.2 percent since December 9, while down 0.34 percent compared to the previous trading day, December 13.
$1 = RMB 7.1882