Mainstream ex-China steel plate offer prices from mills have been heard at $925-950/mt FOB for December shipment as of today, Monday, October 25, remaining stable on average compared to October 18. But reference tradable prices have been heard at $925/mt FOB on average to South America and Southeast Asia, versus $925-940/mt FOB a week ago.
During the given week, local steel plate prices have declined slightly amid decreasing HRC futures prices and the prevailing bearish sentiments among market players. At the same time, demand for steel plate has been slack, exerting a negative impact on prices. It is expected that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 83/mt ($13/mt) week on week to RMB 5,793/mt ($906/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,180/mt ($810/mt), decreasing by RMB 498/mt ($78/mt) or 8.8 percent since October 18.
$1 = RMB 6.3924