Mainstream ex-China steel plate offer prices from mills have been heard at $850-860/mt FOB for April shipment as of today, Monday, February 14, moving up by $60/mt compared to February 7 amid the prevailing bullish sentiments among market participants following the Chinese New Year holiday. Reference deal prices have been heard at $845-855/mt FOB to South America and Southeast Asia.
During the given week, steel plate prices in the Chinese domestic market have risen amid the increasing ferrous metal futures prices and improved sentiments among market players. With market players back to the market, transaction activities have improved, bolstering steel plate prices. It is expected that steel plate prices in the Chinese domestic market will edge up further in the coming week.
Average Q235 20 mm steel plate spot prices in China have moved up by RMB 77/mt ($12.1/mt) week on week to RMB 5,203/mt ($817/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,928/mt ($774/mt), down by RMB 52/mt ($8.2/mt) or 1.04 percent since February 7.
$1 = RMB 6.3664
