Mainstream ex-China steel plate offer prices from mills have mostly been heard at $560-565/mt FOB for February shipment as of today, Monday, December 7, moving sideways on average week on week.
Deal prices have been heard at $555-560/mt FOB to Southeast Asia, moving up by $2.5/mt on average from the previous week. Buyers in the overseas market have started to become more reluctant to accept quickly rising export prices, and this has caused a pause in the rising trend of ex-China steel plate prices. However, ex-China HRC prices have risen again, which will positively affect ex-China steel plate prices in the near future. Iron ore prices reached a new peak last Friday and have continued to go up today, which will bolster plate prices in the coming week.
During the given week, the rising HRC futures prices and local prices bolstered steel plate prices in the Chinese domestic market. Meanwhile, inventory of steel plate has been at relatively low levels, and so market players are optimistic as regards the future prospects for the market. It is thought that steel plate prices in the Chinese domestic market will likely edge up in the coming week.
Average Q235 20 mm steel plate spot prices in China have edged up by RMB 67/mt ($10.2/mt) week on week to RMB 4,153/mt ($635/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,335/mt ($663/mt), increasing by RMB 160/mt ($24.5/mt) or 3.8 percent since November 30.
$1 = RMB 6.5362
