Mainstream ex-China steel plate offer prices from mills have been heard at $680/mt FOB for May shipment as of today, Monday, March 13, remaining stable compared to March 6. Reference deal prices have also been stable, at $670/mt FOB to South America and Southeast Asia, as demand has been insufficient to support the previous intentions of sellers to increase prices.
During the given week, steel plate prices in the Chinese domestic market have moved up amid the prevailing bullish sentiments among market players. Steel plate producers’ capacity utilization rates have increased compared to the previous week, and no new maintenance works have been heard, while inventory levels have declined, reflecting the further improvement of demand. Import iron ore prices have moved up, which will bolster steel plate prices from the cost side. It is expected that steel plate prices in the Chinese domestic market will continue their uptrend in the coming week, but the trend in the export market will depend strongly on demand.
Average Q235 20 mm steel plate spot prices in China have gained RMB 100/mt ($14.4/mt) compared to March 6, standing at RMB 4,547/mt ($655/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 13, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,459/mt ($642.5/mt), increasing by RMB 134/mt ($19.3/mt) or 3.1 percent since March 6.
$1 = RMB 6.9375
