Since the end of January Chinese steel plate export prices have been moving sideways given the lack of demand globally, while local prices have been showing no signs of recovery.
Thus, mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for April shipment as of today, Monday, February 17, remaining unchanged on average as compared to February 10. The reference deal prices have been heard at $485-495/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to February 10.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the sluggish demand from downstream users. Inventory of steel plate has indicated slight declines, though not falling as quickly as market players had expected, still exerting a negative impact on prices. After the Lantern Festival (February 12), downstream users have gradually come back to the market, while they have mostly consumed stocks first. It is thought that steel plate prices in the Chinese domestic market may edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 24/mt ($3.4/mt) compared to February 10, standing at RMB 3,513/mt ($490/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 17, HRC futures at Shanghai Futures Exchange are standing at RMB 3,406/mt ($475/mt), increasing by RMB 30/mt ($4.2/mt) since February 10, while up 0.59 percent compared to the previous trading day, February 14.
$1 = RMB 7.1702
