Mainstream ex-China steel plate offer prices from mills have been heard at $720-740/mt FOB for May shipment as of today, Monday, March 29, moving sideways on average compared to March 22. However, the reference deal prices have increased to $715-720/mt FOB, mainly for South America, up by $5/mt over the past week. Trading has remained limited amid concerns about the anticipated export tax rebate cut.
Most market players have been maintaining a wait-and-see stance, while the good demand in the local market will provide support for ex-China steel plate prices.
During the given week, local steel plate prices have indicated big rises amid rising ferrous metal futures prices and increasing raw material prices. Transaction activities have been quite good due to the good demand from downstream users. Meanwhile, inventory of steel plate has been at relative low levels, bolstering prices. It is thought that steel plate prices in the Chinese domestic market will edge up further.
Average Q235 20 mm steel plate spot prices in China have gained RMB 137/mt ($21/mt) week on week to RMB 5,243/mt ($802/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 29, HRC futures at the Shanghai Futures Exchange are standing at RMB 5,327/mt ($816/mt), increasing by RMB 230/mt ($35/mt) or 4.51 percent since March 22.
$1 = RMB 6.5416
