China’s plate export prices hit decade high on inflation woes, steady demand

Export prices for Chinese steel plate have risen to their highest since September 2011 amid investors’ concerns over inflation coupled with a recovery in demand.

Fastmarkets’ price assessment for April/May shipments of steel heavy plate export, fob China main port was $685-695 per tonne for the week ended Tuesday March 2, widening upward by $5 per tonne from $685-690 per tonne fob a week earlier.
Most market participants believe Chinese plate prices will stay high over the next few days despite them having risen to their highest in about a decade because the overall commodities market is expected to be supported by inflationary concerns.

The most-traded May HRC futures contract closed at 4,907 yuan per tonne on Tuesday, up by 66 yuan per tonne from Monday. The contract rose above 5,000 yuan per tonne on Wednesday morning....

Published

Miranda Song

March 03, 2021

04:56 GMT

Shanghai