Mainstream ex-China steel plate offer prices from mills have been heard at $685/mt FOB for June shipment as of today, Monday, April 3, moving down by $10/mt compared to March 27. Reference deal prices have been heard at $675/mt FOB to South America and Southeast Asia, also declining by $10/mt compared to March 27.
During the given week, steel plate prices in the Chinese domestic market have seen slight rises, while transaction activities have not been as good as expected. Steel plate producers’ outputs have risen slightly. They have been unwilling to reduce output, which will result in supply in the coming weeks. The inventory of steel plate has declined, which will bolster prices to some extent. However, raw material prices are expected to increase and will likely negatively impact steel plate producers’ profitability. It is expected that steel plate prices in the Chinese domestic market will come under downward pressure in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 30/mt ($4.4/mt) compared to March 27, standing at RMB 4,500/mt ($654/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 3, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,181/mt ($608/mt), decreasing by RMB 44/mt ($6.4/mt) or 1.04 percent since March 27.
$1 = RMB 6.8805
