Ex-China steel plate export prices have edged up slightly over the past week.
Specifically, mainstream ex-China steel plate offer prices from mills have been heard at $505-520/mt FOB for June shipment as of today, Monday, April 27, increasing by $5/mt on the high end compared to last week. Besides, the reference deal prices have been heard at $500-510/mt FOB to South America, Africa and the Middle East.
During the given period, steel plate prices in the Chinese domestic market have moved up amid rising HRC futures prices. The decline in inventories indicates that the current market's ability to absorb supply has been outpacing the arrival of new supplies, even though demand has not been as good as market players had expected. Steel mills’ deliveries are expected to decrease, which will result in continuous destocking in the market. Moreover, market players expect some stock replenishment ahead of the Labor Day holiday (May 1-5), which will exert a positive impact on steel plate prices. It is expected that steel plate prices will likely edge up in the coming week.
Average 20 mm Q235 steel plate spot prices in China have gained RMB 57/mt ($8.3/mt) compared to April 20, standing at RMB 3,483/mt ($508/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,394/mt ($477/mt), increasing by RMB 32/mt ($12.2/mt) or 0.95 percent since April 20, while remaining stable compared to the previous trading day, April 24.
$1 = RMB 6.8579