Mainstream ex-China steel plate offer prices from mills have been heard at $595-605/mt FOB for May shipment as of today, Monday, March 4, moving sideways on average as compared to February 26.
The reference deal prices have been heard at $590-595/mt FOB to South America, Africa and the Middle East, also remaining unchanged compared to February 26.
During the given week, steel plate prices in the Chinese domestic market have moved on a downtrend amid increasing capacity utilization rates and rising outputs, while demand from downstream users has improved more slowly than the increase of production. Giant real estate developer Country Garden is facing a wind-up petition, raising concerns in the market, which has exerted a negative impact on the steel plate market. A wave of cold and rainy weather has hit China, also negatively affecting market sentiments. 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 decreased by RMB 17/mt ($2.4/mt) compared to February 26, standing at RMB 4,097/mt ($577/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 4, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,888/mt ($545/mt), increasing by RMB 16/mt ($10/mt) or 0.4 percent since February 26, while decreasing by 0.56 percent compared to the previous trading day (March 1).
$1 = RMB 7.102