Mainstream ex-China steel plate offer prices from mills have been heard at $545-550/mt FOB for December shipment as of today, Monday, October 14, increasing by $20-25/mt on average as compared to September 30. The reference deal prices have been heard at $540/mt FOB to South America, Africa and the Middle East, up $20/mt on average compared to September 30.
Following previous sharp increases, steel plate prices in the Chinese domestic market have just seen slight rises during the given week. China has issued more stimulus polices to boost economic development, exerting a positive impact on the steel plate market. There were steel plate supplies arriving in the market after the long National Day holiday, easing the supply shortages for certain specifications. At the same time, inventory of steel plate has been at relatively low levels, bolstering prices to a certain degree. However, HRC futures prices have seen downward corrections in the given week, signaling that cautious sentiments have started to appear 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 gained RMB 23/mt ($3.3/mt) compared to September 30, standing at RMB 3,773/mt ($534/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,634/mt ($514/mt), decreasing by RMB 9/mt ($1.3/mt) or 0.25 percent since September 30, while up 1.37 percent compared to the previous trading day, October 11.
$1 = RMB 7.0723