Mainstream ex-China steel plate offer prices from mills have been heard at $525/mt FOB for November shipment as of today, Monday, September 30, increasing by $50-55/mt on average as compared to September 23. The reference deal prices have been heard at $520/mt FOB to South America, Africa and the Middle East, up $50/mt on average compared to September 23.
During the given week, steel plate prices in the Chinese domestic market have moved up sharply after China issued several stimulus policies. Market sentiments have improved, providing solid support for the steel plate market. Meanwhile, consumption of steel plate inventory has been proceeding, easing the pressure on prices. Demand for steel plate has improved as downstream users have been building up stocks ahead of the long National Day (October 1-7) holiday. It is expected that steel plate prices in the Chinese domestic market will edge up further after the long holiday, though at a slower pace.
Average Q235 20 mm steel plate spot prices in China have gained RMB 500/mt ($71.4/mt) compared to September 23, standing at RMB 3,750/mt ($536/mt) ex-warehouse, according to SteelOrbis’ information.
As of September 30, HRC futures at Shanghai Futures Exchange are standing at RMB 3,643/mt ($520.4/mt), increasing by RMB 476mt ($68/mt) or 15 percent since September 23, while up 6.99 percent compared to the previous trading day, September 27.
$1 = RMB 7.0074