Mainstream ex-China steel plate offer prices from mills have been heard at $570-580/mt FOB for February shipment as of today, Monday, December 5, moving sideways compared to November 28. Reference deal prices have remained at $550-560/mt FOB to South America and Southeast Asia. The prices are unchanged even though overall sentiments in China have improved. Market sources believe that slow demand is the main reason for the weak activity in the plate exports.
During the given week, steel plate prices in the Chinese domestic market have indicated an overall uptrend amid rises in the raw material prices. Currently, major cities in China have announced an easing of Covid-19 measures, bolstering sentiments for the future prospects for the steel plate market. Meanwhile, inventory of steel plate has been relatively low, also exerting a positive impact on its prices. However, due to the cold winter weather, demand for steel plate has been slack. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 83/mt ($11.8/mt) compared to November 28, standing at RMB 3,993/mt ($566/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,940/mt ($559/mt), increasing by RMB 95/mt ($13.5/mt) or 2.5 percent since November 28.
$1 = RMB 7.0542
