Mainstream ex-China steel plate offer prices from mills have been heard at $485-490/mt FOB for October shipment as of today, Monday, August 12, moving down by $15/mt on average as compared to August 5. The reference deal prices have been heard at $485/mt FOB to South America, Africa and the Middle East, decreasing by $12.5/mt on average compared to August 5.
During the given week, steel plate prices in the Chinese domestic market have continued their downtrend amid steelmakers’ increasing losses. Demand for steel plate has remained slack and so steelmakers have reduced their production activities. Meanwhile, bearish sentiments have prevailed among market players and buyers have been unwilling to build up stocks. At the same time, given the weak performance of the steel plate market, most deals have been transacted at low price levels. 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 107/mt ($15/mt) compared to August 5, standing at RMB 3,403/mt ($476/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 12, HRC futures at Shanghai Futures Exchange are standing at RMB 3,374/mt ($472/mt), decreasing by RMB 152/mt ($21.3/mt) or 4.3 percent since August 5, while down 2.09 percent compared to the previous trading day, August 9.
$1 = RMB 7.1458
