Mainstream ex-China steel plate offer prices from mills have been heard at $610/mt FOB for December shipment as of today, Monday, October 17, moving sideways compared to October 10. Reference deal prices have been heard at $600/mt FOB to South America and Southeast Asia.
During the given week, steel plate prices in the Chinese domestic market have moved down amid slack demand from downstream users. Meanwhile, market players have mostly held a wait-and-see stance as regards the future prospects for the steel plate market following the decreasing trend of prices. However, there will be no big declines in steel plate prices as downstream users still need to replenish stock amid tighter supply. It is expected 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 lost RMB 110/mt ($15.5/mt) compared to October 10, standing at RMB 4,046/mt ($569/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 17, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,688/mt ($519/mt), decreasing by RMB 198/mt ($28/mt) or 5.1 percent since October 10.
$1 = RMB 7.1095