As expected, given the continuous decreases seen in domestic and futures prices, mainstream ex-China steel plate offer prices from mills have dropped by $35/mt on average over the past week to $580-590/mt FOB, for July shipment, as of today, Monday, May 29. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, also decreasing by $35/mt compared to May 22.
During the given week, steel plate prices in the Chinese domestic market have moved down amid slightly higher production. Meanwhile, cautious sentiments have prevailed among market players, exerting a negative impact on the steel plate market. 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 lost RMB 73/mt ($10.3/mt) compared to May 22, standing at RMB 4,030/mt ($571/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 29, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,617/mt ($512.5/mt), decreasing by RMB 30/mt ($4.3/mt) or 0.8 percent since May 22, while up 1.54 percent compared to the previous trading day (May 26).
$1 = RMB 7.0575
