Mainstream ex-China steel plate offer prices from mills have been heard at $500-505/mt FOB for October shipment as of today, Monday, August 5, moving down by $10/mt on average as compared to July 29. The reference deal prices have been heard at $495-500/mt FOB to South America, Africa and the Middle East, also decreasing by $10/mt on average compared to July 29.
During the given week, steel plate prices in the Chinese domestic market have seen further decreases amid the increasing inventory levels. Demand from downstream users has remained slack, resulting in insufficient booking orders, which exerted a negative impact on steel plate market. Steel plate producers reduced their production capacity utilization rates, which will provide certain support to the prices amid the shrinking supply to the market. It is expected 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 lost RMB 43/mt ($6/mt) compared to July 29, standing at RMB 3,510/mt ($492/mt) ex-warehouse, according to SteelOrbis’ information.
As of August 5, HRC futures at Shanghai Futures Exchange are standing at RMB 3,526/mt ($494.5/mt), increasing by RMB 2/mt ($0.28/mt) since July 29, while up 0.74 percent compared to the previous trading day, August 2.
$1 = RMB 7.1345