Mainstream ex-China steel plate offer prices from mills have been heard at $525-535/mt FOB for August shipment as of today, Monday, July 1, decreasing by $10/mt on average as compared to June 24. The reference deal prices have been heard at $520-530/mt FOB to South America, Africa and the Middle East, moving down by $10/mt on average compared to June 24.
During the given week, steel plate prices in the Chinese domestic market have continued to follow a downtrend amid relatively high inventory levels. Heavy rainfalls have resulted in floods in many regions of China, exerting a negative impact on the demand for steel plate. Meanwhile, market players lack confidence as regards the future prospects for steel plate market. Bearish sentiments have prevailed among market players. It is thought 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 30/mt ($4.2/mt) compared to June 24, standing at RMB 3,727/mt ($523/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,760/mt ($528/mt), increasing by RMB 31/mt ($4.3/mt) or 0.8 percent since June 24, while up 0.64 percent compared to the previous trading day, June 28.
$1 = RMB 7.1265