Mainstream ex-China steel plate prices have been heard at $475-480/mt FOB for late April shipment as of today, Monday, February 24, moving sideways on average week on week as most steel plate producers are bullish on the future prospects for the market, while deals have been heard at $465-475/mt to Southeast Asia and South Africa.
Though logistics are still slow, demand from downstream industries, including bridge construction, engineering machinery and the shipbuilding industry in China has gradually improved. Steel plate producers think demand will improve significantly when transportation resumes normal operations in the near future and so they have been unwilling to reduce export offer prices.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 4/mt ($0.6/mt) week on week to RMB 3,690/mt ($525.3/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 24, HRC futures at the Shanghai Future Exchange are standing at RMB 3,490/mt ($497/mt), increasing by RMB 60/mt ($8.5/mt) or 1.75 percent since February 17.
$1 = RMB 7.0246
