Mainstream ex-China steel plate offer prices from mills have been heard at $680/mt FOB for April shipment as of today, Monday, February 6, moving sideways compared to January 30. Reference deal prices have been heard at $670/mt FOB to South America and Southeast Asia, also remaining stable compared to January 30.
During the given week, steel plate prices in the Chinese domestic market have moved down amid weak transaction activities from downstream users, which have not been as good as market players had expected. Following the long holiday, steel plate prices in China indicated big rises first, while they then moved down amid slack demand and declining HRC futures prices. Currently, steel plate producers are less willing to produce due to shrinking profitability. After the Lantern Festival, the steel plate market is expected to resume its normal performance, which will bolster market sentiments and provide support for prices. However, rainy weather may exert a negative impact on demand. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 57/mt ($8.4/mt) compared to January 30, standing at RMB 4,283/mt ($633/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,095/mt ($605/mt), decreasing by RMB130/mt ($19/mt) or 3.1 percent since January 30.
$1 = RMB 6.7737
