Mainstream ex-China steel plate offer prices from mills have been heard at $680/mt FOB for May shipment as of today, Monday, February 27, remaining stable compared to February 20. Reference deal prices have been heard at $670/mt FOB to South America and Southeast Asia, also moving sideways compared to February 20.
During the given week, steel plate prices in the Chinese domestic market have edged up amid improved transaction activities, especially in the first part of the week. In the given week, steelmakers have been less willing to produce, resulting in declines in steel plate output. Meanwhile, inventory of steel plate has decreased at a faster pace amid better demand from downstream users. However, cautious sentiments have started to affect market players following the previous rises in steel plate prices in the local market. It is thought 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 60/mt ($8.6/mt) compared to February 20, standing at RMB 4,390/mt ($631/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,277/mt ($614.5/mt), increasing by RMB 13/mt ($1.9/mt) or 0.3 percent since February 20.
$1 = RMB 6.9572
