Despite slight improvement seen in local steel plate in China coupled with a slight recovery in futures HRC prices, mainstream ex-China steel plate offer prices from mills have moved down by $10/mt on average week on week, standing at $515-520/mt FOB for December shipment.
Meanwhile, the reference deal prices have been heard at $515/mt FOB to South America, Africa and the Middle East, down $10/mt on average compared to October 21.
During the given week, HRC futures prices have seen an increasing trend, exerting a positive impact on steel plate market. China issued several stimulus policies to boost domestic consumption for home appliances, stimulating the demand for steel plate to a certain degree and bolstering its prices solidly.
Average Q235 20 mm steel plate spot prices in China have gained RMB 17/mt ($2.3/mt) compared to October 21, standing at RMB 3,650/mt ($512/mt) ex-warehouse, according to SteelOrbis’ information.
HRC futures at Shanghai Futures Exchange are standing at RMB 3,615mt ($507/mt), increasing by RMB 97/mt ($13.6/mt) or 2.8 percent since October 21, while up 2.64 percent compared to last Friday, October 25.
$1 = RMB 7.1307