Mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for July shipment as of today, Monday, June 5, moving sideways compared to May 29. Reference deal prices have been heard at $575/mt FOB to South America and Southeast Asia, also remaining stable compared to May 29.
During the given week, steel plate prices in the Chinese domestic market have indicated a rebounding trend amid the increasing trend of HRC futures prices. Meanwhile, steel plate producers have been more eager to produce, resulting in rising inventory levels. However, demand for steel plate has not seen significant improvement. Market players have been cautious as regards the future prospects for the steel plate market. It is thought that steel plate prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 40/mt ($5.6/mt) compared to May 29, standing at RMB 4,070/mt ($574/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 29, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,765/mt ($531/mt), increasing by RMB 148/mt ($21/mt) or 4.1 percent since May 29, while up 1.98 percent compared to the previous trading day (June 2).
$1 = RMB 7.0904
