Mainstream ex-China steel plate offer prices from mills have been heard at lower levels over the past week due to weak demand in Asia and more distant markets. One Chinese mil has been asking for $910-920/mt FOB, while at least two other large producers have been offering plate at $930-940/mt FOB. Offer price levels are lower than $935-945/mt FOB for November shipment.
At the same time, the reference deal prices have also slipped from $920/mt FOB to $910/mt FOB to South America and Southeast Asia, though some buyers are not giving firm bids and see the market at not above $900/mt FOB.
During the given week, Chinese domestic steel plate prices have risen slightly amid the increasing HRC futures prices seen earlier in the past week. However, the previous rises in steel plate prices made downstream users purchase just in line with their needs and sentiment has worsened. 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 gained RMB 60/mt ($7.1/mt) week on week to RMB 5,726/mt ($878/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,689/mt ($882/mt), decreasing by RMB 132/mt ($20.5/mt) or 2.3 percent since September 7.
$1 = RMB 6.45