Mainstream ex-China steel plate offer prices from mills have been heard at $670/mt FOB for September shipment as of today, Monday, August 8, remaining stable compared to August 1. Reference deal prices have been heard at $660/mt FOB to South America and Southeast Asia, while last week the range was at $650-660/mt FOB.
During the given week, steel plate prices in the Chinese domestic market continued to edge up amid decreasing supplies and increasing HRC futures prices. At the same time, inventory of steel plate has declined, exerting a positive impact on prices. Demand from downstream users has improved to some extent, with some traders starting to think about building up stocks. 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 moved up by RMB 64/mt ($9.5/mt) compared to August 1, standing at RMB 4,290/mt ($634/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,099/mt ($605.5/mt), rising by RMB 57/mt ($8.4/mt) or 1.4 percent since August 1.
$1 = RMB 6.7695