China export plate prices weaken but resistance to lower levels grows

Spot prices in the China steel plate export markets were off to a weak start in the past week but started to recover on increasing domestic demand, sources told Fastmarkets on Tuesday March 17.

Fastmarkets’ price assessment for April/May shipments of steel heavy plate export, fob China main port was $460-470 per tonne for the week ended Tuesday March 17, widening downward by $5 per tonne from $465-470 the week prior.
While early last week on Tuesday March 10 and March 11 deals were heard at $460-465 per tonne fob, prices gained on Thursday March 12 and March 13 with mills setting the lowest reachable price at $470 per tonne fob on strong domestic trading.

Several sources said Inner Mongolia-based Baotou Iron and Steel Group sold several plate deals with traders at $460-465 per tonne fob...

Published

Miranda Song

March 18, 2020

12:48 GMT

Shanghai