Mainstream ex-China steel plate offer prices from mills are mainly at $750-780/mt FOB for May shipment as of today, Monday, April 12, moving up by $35/mt on average compared to March 29, while clients need to bear the potential risks of any tax rebate cut. One steelmaker gave an offer price at $830/mt FOB as it will bear the potential risks.
Buyers in overseas markets have held a wait-and-see stance, resulting in no transaction activities. The tradable price level has been assessed at $750/mt FOB or slightly below. However, the good demand in the local market will support ex-China steel plate prices at high levels in the near future, market sources believe, even despite weak foreign trading.
During the given period, domestic steel plate prices have indicated big rises due to steelmakers’ cuts in productions and maintenance works, which have decreased the supply to the market. Meanwhile, inventory of steel plate has been at relatively low levels, bolstering prices. 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 gained RMB 287/mt ($44/mt) compared to late March, to RMB 5,530/mt ($843/mt) ex-warehouse, according to SteelOrbis’ information.
$1 = RMB 6.5578