Mainstream ex-China steel plate offer prices from mills have been heard at $475-480/mt FOB for October shipment as of today, Monday, September 2, moving sideways on average as compared to August 26. The reference deal prices have been heard at $475/mt FOB to South America, Africa and the Middle East, remaining stable on average compared to August 26.
During the given week, steel plate prices in the Chinese domestic market have seen rises amid producers’ maintenance works, which have reduced supply of steel plate and bolstered prices. Inventory of steel plate has decreased, exerting a positive impact on prices to a certain degree. However, the limited release of demand from downstream users may limit the rise in steel plate prices. It is thought 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 gained RMB 30/mt ($4.2/mt) compared to August 26, standing at RMB 3,303/mt ($465/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,285/mt ($463/mt), decreasing by RMB 43/mt ($6/mt) or 1.3 percent since August 26, while down 1.82 percent compared to the previous trading day, August 30.
$1 = RMB 7.1027