Mainstream ex-China steel plate offer prices from mills have been heard at $450-460/mt FOB for late July shipment as of today, Monday, May 11, moving sideways on average week on week, following a stable trend in the previous week. The tradable value is heard at $440-445/mt FOB with very small tonnages sold. Strong demand in the local market has bolstered China’s steel plate export offer prices, while there have been more inquiries from South America and Vietnam, though most of their bids were as low as $430/mt FOB.
During the given week, ferrous metal futures prices in China have moved up, exerting a positive impact on the steel plate market. Meanwhile, some steel plate specifications are in short supply in the spot market, resulting in traders’ raising their offer prices. Moreover, the inventory levels of steel plate have decreased, also bolstering steel plate prices. Average Q235 20 mm steel plate spot prices in China have edged up by RMB 94/mt ($13.2/mt) week on week to RMB 3,720/mt ($525.6/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 11, HRC futures at the Shanghai Future Exchange are standing at RMB 3,329/mt ($470.4/mt), increasing by RMB 118/mt ($16.7/mt) or 3.67 percent since April 30.
$1 = RMB 7.0769
