Mainstream ex-China steel plate offer prices from mills have been heard at $560-575/mt FOB for January shipment as of today, Monday, November 27, moving up by $2.5/mt on average as compared to November 20. However, reference deal prices have been heard at $560/mt FOB to South America and Southeast Asia, moving sideways compared to November 20.
During the given week, steel plate prices in the Chinese domestic market have edged up slightly amid increasing HRC futures prices. However, market players have started to be cautious as regards the future prospects for the steel plate market. Currently, demand for steel plate from downstream users is not very good, exerting a negative impact on prices. Fewer market players have participated in speculative steel plate transactions, which may weaken the support for prices. Prices of raw materials, including iron ore and coke, are at relatively high levels, providing support for steel plate prices.
Average Q235 20 mm steel plate spot prices in China have gained RMB 30/mt ($4.2/mt) compared to November 20, standing at RMB 4,053/mt ($569.6/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,055/mt ($570/mt), increasing by RMB 8/mt ($1.1/mt) or 0.2 percent since November 20, while up 0.95 percent compared to the previous trading day.
$1 = RMB 7.1159