Mainstream ex-China steel plate offer prices from mills have been heard at $680/mt FOB for April shipment as of today, Monday, February 20, moving sideways compared to February 13. Reference deal prices have been at $670/mt FOB to South America and Southeast Asia, remaining unchanged compared to February 13. Nevertheless, overall sentiments in the market have improved, following rises in futures prices and expectations of local demand improvement.
During the given week, transaction activities in the Chinese domestic market have improved. Inventory of steel plate has decreased amid better demand from downstream users. As for the future, demand is expected to improve further, which will bolster steel plate prices. It is expected that steel plate prices in the Chinese domestic market will edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have increased by RMB 47/mt ($7/mt) compared to February 13, standing at RMB 4,330/mt ($631/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 20, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,264/mt ($622/mt), increasing by RMB 182/mt ($26.5/mt) or 4.46 percent since February 13.
$1 = RMB 6.8643
