Ex-China steel plate export prices have been held largely stable over the past week, with sentiment improving this week among overseas buyers as futures prices have staged a mild recovery in China. Market participants said the uptick in futures has eased bearish expectations and could lend short-term support to steel plate offers, although actual transactions remain limited amid cautious restocking.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $475-490/mt FOB for December shipment as of today, Monday, November 17, the same as last week. Besides, the reference deal prices have remained at $470-485/mt FOB to South America, Africa and the Middle East.
During the given week, steel plate prices in the Chinese domestic market edged up slightly amid relatively stable production capacity utilization rates. However, demand for steel plate has been slack in the traditional offseason. Meanwhile, cautious sentiments have prevailed among market players, resulting in traders’ price reductions as they sought to stimulate transaction activities.
Average 20 mm Q235 20 steel plate spot prices in China have gained RMB 3/mt ($0.4/mt) compared to November 10, standing at RMB 3,400/mt ($479/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 17, HRC futures at Shanghai Futures Exchange are standing at RMB 3,302/mt ($465/mt), increasing by RMB 50/mt ($7.0/mt) or 1.5 percent since November 10, while up 1.57 percent compared to the previous trading day, November 14.
$1 = RMB 7.0816
