Mainstream ex-China steel plate offer prices from mills have been heard at $515-535/mt FOB for January shipment as of today, Monday, November 11, compared to $505-510/mt FOB on November 4. However, despite the increase from mills, the reference deal prices have still been heard at $505-515/mt FOB to South America, Africa and the Middle East, against $505/mt FOB reported at the beginning of last week.
During the given week, steel plate prices in the Chinese domestic market have moved down amid the prevailing cautious sentiments among market players. Transaction activity for steel plate supplies at lower prices has been livelier than for higher-priced plate. Demand from downstream users has been slack, while anticipated stock replenishments for the winter may bolster steel plate prices to a certain degree in the future. 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 17/mt ($2.4/mt) compared to November 4, standing at RMB 3,600/mt ($501/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,510/mt ($489/mt), decreasing by RMB 74/mt ($10.3/mt) or 2.1 percent since November 4, while down 1.9 percent compared to the previous trading day, November 8.
$1 = RMB 7.1786