Mainstream ex-China steel plate offer prices from mills have been heard at $620/mt FOB for July shipment as of today, Monday, May 22, remaining stable compared to May 15. Reference deal prices have been heard at $610/mt FOB to South America and Southeast Asia, also remaining stable compared to May 15.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the sluggish demand from downstream users. Steelmakers have been more willing to produce, resulting in an increasing outputs of steel plate. Meanwhile, cautious sentiments have prevailed among market players, while this will likely continue in the coming period. 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 44/mt ($6.3/mt) compared to May 15, standing at RMB 4,103/mt ($585/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 22, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,647/mt ($520/mt), decreasing by RMB 85/mt ($13.2/mt) or 2.3 percent since May 15, while down 2.23 percent compared to the previous trading day (May 21).
$1 = RMB 7.0157
