Mainstream ex-China steel plate offer prices from mills have been heard at $630-640/mt FOB for October shipment as of today, Monday, August 29, moving sideways compared to August 22. The price stabilization after the $20/mt decline in the previous week occurred after some increases seen in the local market in China and amid cautious optimism for September.
Reference deal prices have also remained stable at $610-625/mt FOB to South America and Southeast Asia.
During the given week, steel plate prices in the Chinese domestic market have moved up for common and low alloy medium plate, though indicating declines for shipbuilding plate. Market players expect a better performance in September, and some traders have started to try to raise prices and have been unwilling to sell at low prices. Meanwhile, demand for steel plate has gradually improved, which will provide some support for prices. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 37/mt ($5.4/mt) compared to August 22, standing at RMB 4,270/mt ($621.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 29, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,961/mt ($577/mt), rising by RMB 58/mt ($8.4/mt) or 1.5 percent since August 22.
$1 = RMB 6.8698
