Ex-China steel plate prices stable, buyers cautious

Monday, 17 January 2022 17:24:45 (GMT+3)   |   Shanghai
       

Mainstream ex-China steel plate offer prices from mills have been heard at $780-790/mt FOB for March shipment as of today, Monday, January 17, moving sideways compared to January 10. The reference deal prices have also remained at $775-785/mt FOB to South America and Southeast Asia, with most buyers cautious as regards placing orders.

During the given week, steel plate prices in the local Chinese market have indicated slight declines amid the prevailing cautious sentiments among market players. Due to the worsening Covid-19 pandemic in many regions in China, demand for steel plate has slackened, resulting in decreasing purchasing activities. It is thought that steel plate prices in the Chinese domestic market may move down in the coming week.

Average Q235 20 mm steel plate spot prices in China have declined by RMB 26/mt ($4.1/mt) week on week, to RMB 4,980/mt ($783/mt) ex-warehouse, according to SteelOrbis’ information.

As of January 17, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,665/mt ($733.5/mt), increasing by RMB 33/mt ($5.2/mt) or 0.7 percent since January 10.

$1 = RMB 6.3599


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