Mainstream ex-China steel plate offer prices from mills have been heard at $525-535/mt FOB for August shipment as of today, Monday, July 8, moving sideways on average as compared to July 1. The reference deal prices have been heard at $520-530/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to July 1.
During the given week, steel plate prices in the Chinese domestic market have indicated slight declines amid steady production and sluggish demand from downstream users. Though the rainy season is over in southern and eastern China, the hot weather has exerted a negative impact on the steel plate market. Cautious sentiments have prevailed among market players. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 10/mt ($1.4/mt) compared to July 1, standing at RMB 3,717/mt ($521/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 8, HRC futures at Shanghai Futures Exchange are standing at RMB 3,706/mt ($520/mt), decreasing by RMB 54/mt ($7.6/mt) or 1.4 percent since July 1, while down 1.85 percent compared to the previous trading day, July 5.
$1 = RMB 7.1286
