Mainstream ex-China steel plate offer prices from mills have been heard at $890-900/mt FOB for January shipment as of today, Monday, November 8, moving down by $30/mt week on week, while moving sideways compared to late last week. The reference deal prices have been heard at $875-885/mt FOB to South America and Southeast Asia.
During the given week, local steel plate prices have declined sharply following the big decreases in ferrous metal futures prices and the prevailing bearish sentiments among market players. Demand for steel plate has been slack, and so downstream users have been unwilling to conclude purchases. A round of cold weather has hit China, which may exert a negative impact on the steel plate market. 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 lost RMB 253/mt ($39.5/mt) week on week, at RMB 5,400/mt ($844/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,564/mt ($713/mt), decreasing by RMB 262/mt ($41/mt) or 5.43 percent since November 1.
$1 = RMB 6.3959