November 20, 2008

Chinese Steel plate export offer remain high

It is reported that export offers for Chinese steel plate remain at high levels this week.

Domestic plate prices are largely unchanged. On Shanghai market, commercial 16mm plate by Yingkou steel is being quoted at CNY 6600 per tonne to CNY 6650 per tonne, commodity grade 16mm to 20mm plate by Chunye and Feida steel are tagged at CNY 6100 per tonne to CNY 6120 per tonne flat with last Friday.

Quotations by tier one steel mills are at around US1270 per tonne to USD 1300 per tonne FOB as base and there is not much export volume. They normally export commercial plate to long term customers and set aside few tonnage for spot export business.

Those by tier two steel makers are USD 1140 per tonne to USD 1160 per tonne FOB end September shipment. Tianjian is quoting its commercial plate at USD 1160 per tonne to USD 1165 per tonne FOB and Hebei Jiye is offering at USD 1130 per tonne to USD 1140 per tonne FOB. Average contract price is USD 1130 per tonne to USD 1135 per tonne FOB.

While such tier three steel mills as Changda and Yicheng is quoting commodity grade plate at USD 1090 per tonne FOB. Contract price is a little lower at USD 1080 per tonne FOB.

Ship plate by tier two steel mills are between USD 1360 per tonne to USD 1370 per tonne FOB as base, while those by tier one producers have jumped to USD 1400 per tonne up in September or October shipment.

(Sourced from MySteel.com)