Mainstream ex-China steel plate offer prices from mills have been heard at $935-945/mt FOB for October shipment as of today, Monday, August 23, moving down by $5/mt on average compared to that recorded on August 16. The reference deal prices have also lost $5/mt, coming to $930-940/mt FOB to South America and Southeast Asia, though demand has remained thin.
During the given week, domestic steel plate prices have seen declines amid the decreasing HRC futures prices and the prevailing bearish sentiments among market players. The demand for steel plate from downstream users has remained slack, resulting in low-to-medium transaction activities. It is expected that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 54/mt ($8.3/mt) week on week, at RMB 5,606/mt ($863/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 23, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,464/mt ($841/mt), decreasing by RMB 239/mt ($37/mt) or 4.2 percent since August 16.
$1 = RMB 6.4969