Mainstream ex-China steel plate offer prices from mills have been heard at $630-640/mt FOB for October shipment as of today, Monday, September 5, moving sideways compared to August 29. Reference deal prices have been heard 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 down amid decreasing HRC futures prices. Meanwhile, super typhoon Hinnamnor has exerted a negative impact on demand for steel plate. Currently, bearish sentiments still prevail among market players. Steelmakers have been unwilling to produce, which will result in declining outputs in the near future and bolster steel plate prices to some extent. It is expected that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 70/mt ($5.4/mt) compared to August 29, standing at RMB 4,200/mt ($610/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 5, HRC futures at the Shanghai Futures Exchange (the main contract shifted from hc2210 to hc2301) are standing at RMB 3,742/mt ($543/mt), declining by RMB 84/mt ($12.2/mt) or 2.2 percent since August 29.
$1 = RMB 6.8998
