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 6, remaining stable on average as compared to December 30. The reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, moving sideways on average compared to December 30.
During the given week, steel plate prices in the Chinese domestic market have edged down amid the easing of supply shortages in the spot market. At the same time, demand for steel plate from downstream users has slackened, exerting a negative impact on market sentiments. Cautious sentiments have prevailed among market players as there are limited trading days left ahead of the Chinese New Year holiday (January 28-February 4). Meanwhile, on January 6, major Chinese steelmaker Baosteel announced stable steel plate prices for delivery in February, bolstering market prices to a certain degree. It is expected 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 moved down by RMB 30/mt ($4.2/mt) compared to December 30, standing at RMB 3,543/mt ($493/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,358/mt ($467/mt), decreasing by RMB 75/mt ($10.5/mt) or 2.2 percent since December 30, while down 0.97 percent compared to the previous trading day, January 3.
$1 = RMB 7.1876
