Mainstream ex-China steel plate offer prices from mills have been heard at $695/mt FOB for May shipment as of today, Monday, March 27, moving sideways compared to March 20. Reference deal prices have been heard at $685/mt FOB to South America and Southeast Asia, also remaining stable compared to March 20.
During the given week, steel plate prices in the Chinese domestic market have moved down amid increasing production. At the same time, steel plate producers are unlikely to implement maintenance works in the near future, which will result in steady supply to the market. Meanwhile, consumption of steel plate has increased slightly compared to the previous week, though it is still not as good as market players had expected. Decreasing iron ore prices have weakened the support for steel plate prices, while producers’ profitability may improve. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 70/mt ($10.2/mt) compared to March 20, standing at RMB 4,470/mt ($651/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,225/mt ($615/mt), decreasing by RMB 80/mt ($11.6/mt) or 1.86 percent since March 20.
$1 = RMB 6.8714