Mainstream ex-China steel plate offer prices from mills have been heard at $520-525/mt FOB for August shipment as of today, Monday, July 15, decreasing by $7.5/mt on average as compared to July 8. The reference deal prices have been heard at $515-520/mt FOB to South America, Africa and the Middle East, also declining by $7.5/mt on average compared to July 8.
During the given week, steel plate prices in the Chinese domestic market have seen slight declines amid the steady production outputs, sufficient arrivals to the spot market and slightly rising inventory levels. At the same time, demand for steel plate has been slack, negatively affecting market sentiments. Traders chose to sell at lower prices to bring in cash, resulting in continuous cautious sentiments among market players. During the July 15-18 period, an important conference will be held in Beijing, which might bolster market players’ sentiments. It is thought that steel plate prices in the Chinese domestic market will likely move sideways in the coming week.
Average Q235 20 mm steel plate spot prices in China have lost RMB 20/mt ($2.8/mt) compared to July 8, standing at RMB 3,697/mt ($518.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of July 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,734/mt ($524/mt), increasing by RMB 28/mt ($3.9/mt) or 0.8 percent since July 8, while up 0.81 percent compared to the previous trading day, July 12.
$1 = RMB 7.1313