Mainstream ex-China steel plate offer prices from mills have been heard at $580-590/mt FOB for April shipment as of today, Monday, February 5, remaining stable on average as compared to January 29. The reference deal prices have been heard at $575-580/mt FOB to South America, Africa and the Middle East, also moving sideways over the past week.
During the given week, steel plate prices in the Chinese domestic market have moved on a downtrend amid the sluggish demand from downstream users. Widespread heavy snowfall in China and the approaching Chinese New Year holiday (February 9-16) have exerted a negative impact on the steel plate market. It is expected that steel plate prices will move sideways in the coming period and will indicate a rebounding trend following the holiday.
Average Q235 20 mm steel plate spot prices in China have declined by RMB 27/mt ($3.8/mt) compared to January 29, standing at RMB 4,123/mt ($581/mt) ex-warehouse, according to SteelOrbis’ information.
As of February 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,971/mt ($559/mt), decreasing by RMB 121/mt ($17/mt) or 3.0 percent since January 29, while decreasing by 0.1 percent compared to the previous trading day (February 2).
$1 = RMB 7.107