Mainstream ex-China steel plate offer prices from mills have remained at $850-860/mt FOB for April shipment as of today, Monday, February 21, moving sideways compared to February 14 amid the prevailing bullish sentiments among market participants following the Chinese New Year holiday. Reference deal prices have been heard at $845-850/mt FOB to South America and Southeast Asia, with a lack of trading heard.
During the given week, Chinese domestic steel plate prices have indicated declines amid decreasing ferrous metal futures prices and the prevailing cautious sentiments among market players. Meanwhile, downstream users have resumed production slowly this year, exerting a negative impact on demand for steel plate. It is expected that steel plate prices in the Chinese domestic market will likely move sideways or gradually increase in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 53/mt ($8.4/mt) week on week, standing at RMB 5,150/mt ($812/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,959/mt ($782/mt), increasing by RMB 31/mt ($4.9/mt) or 0.63 percent since February 14, as last week’s declines have been offset by rises today, February 21.
$1 = RMB 6.3401
