Chinese Plate Export Prices Have Increased by $15-20/Tonne Over The Past Two Weeks

Chinese plate export prices have increased by $15-20/tonne over the past two weeks along with the recovery in overseas demand. Exporters say that maintenance work at major Chinese plate mills will be carried out from late July to August, which makes now a good opportunity for foreign buyers to restock as Chinese export prices are likely to firm up in the next few months on tighter supply. Prevailing offer prices of boron-added plate from tier-two mills have increased to around $710-730/t fob. Some exporters tell Steel Business Briefing that lower offers have gradually disappeared, and prices have become more varied because Chinese mills have attempted to negotiate every single contact in a bid to gain a higher price. Meanwhile, a booking of low-alloy plate of S275JR grade from a tier-one mill was recently closed at $825/t cfr to Europe, SBB hears. It will be shipped in October. Right after that deal, some offers for similar materials increased to around $839/t cfr. A market source says some European buyers have decided to restock at present given a positive outlook on September and October when their market should return from summer holidays. Tianjin Iron & Steel, Liuzhou Iron & Steel, Baotou Iron & Steel and Baiyi Iron & Steel all plan to carry out maintenance work on their plate mills from late July to August, causing a combined loss of about 240,000t of plate. Source: sbb.com