Mainstream ex-China steel plate offer prices from mills have been heard at $550-570/mt FOB for May shipment as of today, Monday, March 25, moving down by $5/mt on average as compared to March 18. The reference deal prices have been heard at $545/mt FOB to South America, Africa and the Middle East, edging down $2.5/mt on average compared to March 18.
During the given week, steel plate prices in the Chinese domestic market have edged up slightly amid improving demand from downstream users. At the same time, HRC futures prices have indicated an uptrend, exerting a positive impact on the steel plate market. Following the improvement in steel plate producers’ profitability, they have increased production capacity utilization rates, which has resulted in rising production outputs. It is expected that steel plate prices in the Chinese domestic market will likely see a slight uptrend in the coming week.
Average Q235 20 mm steel plate spot prices in China have increased by RMB 20/mt ($2.8/mt) compared to March 18, standing at RMB 3,947/mt ($556/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,806/mt ($536/mt), increasing by RMB 81/mt ($11.4/mt) or 2.2 percent since March 18, while down 0.42 percent compared to the previous trading day, March 22.
$1 = RMB 7.0996