Chinese plate export offers have started shown upward momentum by USD 5/MT W-o-W basis owing to optimistic demand from overseas buyers.Buyers have booked the material and are ready to accept the bookings on higher prices.
This week Chinese export offers are recorded at USD 530-540/MT,FoB China.Last week the offers are assessed at USD 525-530/MT FoB basis.
Meanwhile plate prices for commercial grade 14-20 mm in China’s domestic prices showed the hike of today by RMB 120/MT and are heard in the range of RMB 4,200-4,300/MT,including VAT.
Major mills in China have increased the plate export offers by USD 20/MT and are offering around USD 550/MT,FoB basis.Few mills are also also quoting at USD 568/MT FoB China.
Few Indian steel mills hold plate export offers – SteelMint heard through market sources that few of the major steel mills are holding plate export offers owing to hike in prices in global market.
SteelMint acknowledged from market sources that one of the major mill in India has currently booked around 1000 MT of commercial grade plates to be exported to Italy in the range of USD 560/MT,FoB basis for Jan’۱۸ shipments.This will be equivalent to USD 600/MT CFR basis.
