Mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for March shipment as of today, Monday, January 15, moving sideways on average as compared to January 8. The reference deal prices have been heard at $575-580/mt FOB to South America, Africa and the Middle East, also remaining stable over the past week.
Downstream users have been cautious as regards the future prospects for the steel plate market.
During the given week, steel plate prices in the Chinese domestic market have fluctuated within a limited range amid increasing capacity utilization rates on the producers’ side and slight rises in outputs. Construction sites’ outdoor projects have basically stalled, resulting in slack demand for steel plate. Traders have been unwilling to build up stocks amid the prevailing cautious sentiments, exerting a negative impact on steel plate prices. It is expected that steel plate prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 3/mt ($0.4/mt) compared to January 8, standing at RMB 4,110/mt ($579/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,017/mt ($566/mt), decreasing by RMB 34/mt ($4.8/mt) or 0.8 percent since January 8, while down 0.57 percent compared to the previous trading day (January 12).
$1 = RMB 7.1084
