Mainstream ex-China steel plate offer prices from mills have been heard at $920-940/mt FOB for September shipment as of today, Monday, August 2, moving down by $10/mt on average compared to July 26. Deal price levels have been heard at $920-930/mt FOB to South America and Southeast Asia. The sharply decreasing HRC futures prices have weakened the support for ex-China steel plate offer prices.
During the given week, local steel plate prices in China have indicated slight rises amid increasing ferrous metal futures prices, while demand from downstream users has been slack. Currently, the Covid-19 pandemic situation has been worsening in China again, which will exert a negative impact on the steel plate market.
Average Q235 20 mm steel plate spot prices in China have gained RMB 27/mt ($4.2/mt) week on week to RMB 5,693/mt ($880.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 2, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,780/mt ($894/mt), decreasing by RMB 210/mt ($32.5/mt) or 3.5 percent since July 26.
$1 = RMB 6.466