Mainstream ex-China steel plate offer prices from mills have been heard at $550-570/mt FOB for July shipment as of today, Monday, May 6, moving sideways on average as compared to April 29. The reference deal prices have been heard at $550-555/mt FOB to South America, Africa and the Middle East, also remaining stable on average compared to April 29.
During the given week, steel plate prices in the Chinese domestic market have seen slight rises amid increasing HRC futures prices following the Labor Day holiday. There were new supplies arriving in the spot market during the holiday, while demand has been stagnant, which resulted in slight rises in inventory levels. Coke prices will see a new round of rises, which will bolster steel plate prices to a certain degree. It is expected that steel plate prices in the Chinese domestic market will indicate a fluctuating trend within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have gained RMB 16/mt ($2.3/mt) compared to April 29, standing at RMB 3,933/mt ($554/mt) ex-warehouse, according to SteelOrbis’ information.
As of May 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,877/mt ($546/mt), increasing by RMB 61/mt ($8.6/mt) or 1.6 percent since April 29, while up 1.55 percent compared to the previous trading day, April 30.
$1 = RMB 7.0994