Mainstream ex-China steel plate offer prices from mills have been heard at $925-950/mt FOB as of today, Monday, October 11, moving up by $12.5/mt on average compared to prices on September 27, before the long holiday.
The reference deal prices have also gone up, to at least $925/mt FOB to South America and Southeast Asia, up by $10/mt on average from the pre-holiday period.
During the given week, steel plate prices in the Chinese domestic market have risen sharply, while transaction activities have been at low-to-medium levels. Due to production restrictions and power restrictions, downstream users are mostly bullish as regards the future prospects for the market. Demand for steel plate has improved, which has bolstered prices locally and supported sentiment in the export market. It is expected that steel plate prices in the Chinese domestic market will move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 217/mt ($33.6/mt) week on week to RMB 5,930/mt ($919.4/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 11, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,833/mt ($902/mt), increasing by RMB 241/mt ($37.4/mt) or 4.3 percent since September 27.
$1 = RMB 6.4479