Mainstream ex-China steel plate offer prices from mills have been heard at $585-590/mt FOB for May shipment as of today, Monday, March 11, moving down by $12.5/mt on average as compared to March 4. The reference deal prices have been heard at $580/mt FOB to South America, Africa and the Middle East, also decreasing by $12.5/mt compared to March 4.
During the given week, steel plate prices in the Chinese domestic market have seen continuous declines amid slow inventory consumption. Meanwhile, traders have faced pressures from tight liquidity, which exerted a negative impact on steel plate prices. However, demand for steel plate has seen improvements, which will bolster prices in the near future. It is expected that steel plate prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have decreased by RMB 77/mt ($11/mt) compared to March 4, standing at RMB 4,020/mt ($566/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,767/mt ($531/mt), decreasing by RMB 121/mt ($10.7/mt) or 3.1 percent since March 4, while down 1.95 percent compared to the previous trading day, March 8.
$1 = RMB 7.0969