Mainstream ex-China steel plate offer prices from mills have been heard at $490-500/mt FOB for January shipment as of today, Monday, December 9, moving sideways on average as compared to December 2. The reference deal prices have been heard at $490-495/mt FOB to South America, Africa and the Middle East, remaining stable on average compared to December 2.
During the given week, steel plate prices in the Chinese domestic market have moved sideways amid decreasing inventory levels and supply shortages of some specifications. Demand for steel plate has improved to a certain degree as some buyers have been building up stocks for the winter. While the weather is getting colder, market players are evaluating the likely impact of a government announcement following an official meeting to the effect that China is going to implement a “moderately loose” monetary policy in the coming year, which would change its monetary policy stance for the first time since 2011. It is thought that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average Q235 20 mm steel plate spot prices in China have remained unchanged compared to December 2, standing at RMB 3,613/mt ($502.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of December 9, HRC futures at Shanghai Futures Exchange are standing at RMB 3,486/mt ($485/mt), decreasing by RMB 34/mt ($4.7/mt) or 1.0 percent since December 2, while down 0.11 percent compared to the previous trading day, December 8.
$1 = RMB 7.187