Mainstream ex-China steel plate offer prices from mills have been heard at $535-545/mt FOB for August shipment as of today, Monday, June 24, decreasing by $15/mt on average as compared to June 17. The reference deal prices have been heard at $530-540/mt FOB to South America, Africa and the Middle East, moving down by $12.5/mt on average compared to June 17.
During the given week, steel plate prices in the Chinese domestic market have continued their downtrend amid the sluggish demand from downstream users. The plum rain season has exerted a negative impact on construction activities, negatively affecting the demand for steel plate. In the short term, demand will unlikely indicate an improvement. It is thought that steel plate prices in the Chinese domestic market will likely edge down in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 60/mt ($8.4/mt) compared to June 17, standing at RMB 3,757/mt ($528/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,729/mt ($524/mt), decreasing by RMB 51/mt ($7.2/mt) or 1.35 percent since June 17, while down 1.11 percent compared to the previous trading day, June 21.
$1 = RMB 7.1201
