Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for February shipment as of today, Monday, January 13, moving sideways on average as compared to January 6. The reference deal prices have been heard at $485-495/mt FOB to South America, Africa and the Middle East, moving down by $5/mt on the lower end of the range over the past week.
During the given week, steel plate prices in the Chinese domestic market have continued their downtrend as inventory levels have increased. As the Chinese New Year holiday (January 28-February 4) is approaching, cautious sentiments have prevailed among traders, exerting a negative impact on the demand for steel plate. Market players are paying close attention to the release of demand and the restocking situation in the market.
Average Q235 20 mm steel plate spot prices in China have moved down by RMB 50/mt ($7/mt) compared to January 6, standing at RMB 3,493/mt ($486/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 13, HRC futures at Shanghai Futures Exchange are standing at RMB 3,357/mt ($467/mt), remaining at mainly the same levels reported on January 6, while up 1.45 percent compared to the previous trading day, January 10.
$1 = RMB 7.1885
