Mainstream ex-China steel plate offer prices from mills have been heard at $540-560/mt FOB for May shipment as of today, Monday, April 15, versus $525-545/mt FOB on April 8. Besides, the reference deal prices have been heard at $540-545/mt FOB to South America, Africa and the Middle East, compared to $520-525/mt FOB at the beginning of last week.
During the given week, steel plate prices in the Chinese domestic market have edged up amid the slightly improved demand from downstream users. Currently, steel plate producers’ profitability has seen certain improvements, while they have been quite willing to produce, resulting in sufficient supply and relatively high inventory levels in the spot market. At the same time, steel plate prices have gained support from firm production costs and increasing HRC futures prices. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have risen by RMB 43/mt ($6/mt) compared to April 8, standing at RMB 3,873/mt ($545.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,780/mt ($532/mt), increasing by RMB 52/mt ($7.3/mt) or 1.4 percent since April 8, while up 0.32 percent compared to the previous trading day, April 12.
$1 = RMB 7.0979