Mainstream ex-China steel plate offer prices from mills have been heard at $460-465/mt FOB for late June shipment as of today, Monday, April 13, moving down by $17.5/mt on average week on week. The tradable value is heard at $450-460/mt FOB. The demand for steel plate in the export market has been slack, while the local market has also been under pressure.
During the given week, inventories of steel plate in the Chinese market have edged down, though still remaining at relatively high levels. Cautious sentiments have prevailed among market players as they are worried about the future prospects for the market amid the ongoing coronavirus pandemic worldwide. Average Q235 20 mm steel plate spot prices in China have edged down by RMB 44/mt ($6.3/mt) week on week to RMB 3,616/mt ($514.4/mt) ex-warehouse, according to SteelOrbis’ information.
At the same time, a low-priced deal was heard from South Korea to China and, though the price level has not been confirmed by the time of publication, it has been assessed by market sources at around $450/mt CFR or below. Sources said that demand for steel plate will likely slow down amid concerns for future economic development, especially amid the complex external environment. Accordingly, they foresee that ex-China steel plate prices will likely edge down further.
As of April 13, HRC futures at the Shanghai Future Exchange are standing at RMB 3,220/mt ($458/mt), increasing by RMB 141/mt ($20/mt) or 4.6 percent since March 30.
$1 = RMB 7.03
