SunSirs: Shanghai plate spot prices rose slightly(Jan 8th.)
January 09 2020 11:23:50 SunSirs (Molly)
On January 8, Shanghai mild steel plate spot price has been partially adjusted, plate market mentality has improved. Mild and thick plate market price: first-line price: about $555.70/ton, second-line price: about $548.50/ton; Low alloy plate (manganese plate) resources, the mainstream price: $585.93/ton, rough edge thick plate price: $584.49/ton or so.
Before the Spring Festival the Shanghai market trading has no obvious changes, but due to yesterday's futures pull up, today's upstream steel level generally rose, the market atmosphere has improved significantly. From the surrounding representative steel mills, up to today, they increase $1.44/ton to $552.82/ton. At present, the material of Shanghai market presents the situation that the general board is mainly based on the second and third-line resources, while the low-alloy board (manganese board) is mainly based on the first-line Pinggang steel mill, and the material composition is unbalanced. From the perspective of the thickness range, Yingkou resources have been injected into the short-term thick plate resources in Shanghai, and some of them have been added to subdivide the thickness resources. Today, there is a positive intention to replenish the stock at the circulation end. It is expected that the prices of medium and low alloy plates (manganese plates) will continue to consolidate at a high level in the short term.
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