Mainstream ex-China steel plate offer prices from mills have mostly been heard at $525-530/mt FOB for December shipment as of today, Monday, September 28, moving sideways on average week on week, however, the declining trend in the local steel plate market has kept sentiment in the market negative.
Reference deal prices have been heard at $510-515/mt FOB, to Southeast Asia, South America and the Middle East, edging down by $2.5/mt compared to that recorded over the previous week. Currently, market players have been more cautious towards prospect for the future steel plate market as they thought the coming winter season will exert a negative impact on demand.
During the given week, demand for steel plate from downstream users in China has not seen significant improvement amid the prevailing bearish sentiments among market players. Meanwhile, as the National Day holiday (October 1-8) is approaching, buyers have been less willing to conclude purchases, though inventory has been at relatively low level.
Average Q235 20 mm steel plate spot prices in China have edged down by RMB 17/mt ($2.5/mt) week on week to RMB 3,946/mt ($586/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 28, HRC futures at the Shanghai Future Exchange are standing at RMB 3,669/mt ($537.6/mt), increasing by RMB 8/mt ($1.2/mt) or 0.2 percent since September 21.
$1 = RMB 6.8252