Mainstream ex-China steel plate offer prices from mills have been heard at $475-485/mt FOB for June shipment as of today, Monday, April 28, remaining stable on average as compared to April 21. The reference deal prices have been heard at $475-480/mt FOB to South America, Africa and the Middle East, also moving sideways on average compared to April 21.
During the given week, steel plate prices in the Chinese domestic market have risen slightly amid relatively low inventory levels. Some buyers have started to conclude purchases of steel plate ahead of the Labor Day holiday (May 1-5), bolstering prices, though there is no need for large restocking. Most market players are cautious amid the uncertainties in the market. 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 gained RMB 30/mt ($4.2/mt) compared to April 21, standing at RMB 3,573/mt ($496/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 28, HRC futures at Shanghai Futures Exchange are standing at RMB 3,237/mt ($446/mt), increasing by RMB 28/mt ($3.9/mt) or 0.9 percent since April 21, while up 0.84 percent compared to the previous trading day, April 25.
$1 = RMB 7.2043
