Mainstream ex-China steel plate offer prices from mills have been heard at $900-910/mt FOB for May shipment as of today, Monday, March 21, moving sideways compared to March 14. Reference deal prices have been heard at $880-890/mt FOB to South America and Southeast Asia.
During the given week, average steel plate prices in the Chinese domestic market have increased week on week amid limited circulation of supplies due to the negative impact of the Covid-19 pandemic. However, demand from downstream users has remained slack. Later in the given week, the Chinese government issued policies to boost sentiments among market players in the financial markets, thereby exerting a positive impact on the steel plate market. It is thought that steel plate prices in the Chinese domestic market will fluctuate in a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved up by RMB 29/mt ($4.6/mt) week on week to RMB 5,166/mt ($811/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,132/mt ($806/mt), rising by RMB 182/mt ($28.6/mt) or 3.7 percent since March 14.
$1 = RMB 6.3677
