Mainstream ex-China steel plate offer prices from mills have been heard at $620/mt FOB for July shipment as of today, Monday, May 15, moving sideways compared to May 8. Reference deal prices have been heard at $610/mt FOB to South America and Southeast Asia, also remaining stable compared to May 8.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the sluggish demand from downstream users. Meanwhile, cautious sentiments have prevailed among market players. At the same time, the decreasing iron ore and coke prices have exerted a negative impact on steel plate prices from the cost side. It is expected that steel plate prices in the Chinese domestic market will likely edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 70/mt ($10.0/mt) compared to May 8, standing at RMB 4,147/mt ($595/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,732/mt ($535.4/mt), decreasing by RMB 80/mt ($13.2/mt) or 2.1 percent since May 8, while up 2.33 percent compared to the previous trading day (May 12).
$1 = RMB 6.9654