Mainstream ex-China steel plate offer prices from mills have been heard at $930-950/mt FOB for July shipment as of today, Monday, June 7, moving sideways on average compared to May 31. Following the stable trend in ex-China steel plate prices, overseas buyers from the Middle East, South America and Asia increased their purchases, with deal prices heard at $910-930/mt FOB, stable from the previous week.
However, some market players thought steel plate prices may edge down amid the approaching traditional offseason, while the uncertainty regarding export tax may negatively affect demand from overseas. At the same time, other market participants said they think the firm trend of iron ore prices may support steel prices to some extent.
During the given week, domestic steel plate prices have decreased amid declining HRC futures prices. At the same time, demand for steel plate has been slack, resulting in low-to-medium transaction activities. Inventory of steel plate has not indicated big changes. It is thought that steel plate prices may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 146/mt ($23/mt) week on week, at RMB 5,560 mt ($869/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,252/mt ($821/mt), decreasing by RMB 102/mt ($16/mt) or 1.9 percent since May 31.
$1 = RMB 6.3963
