China heavy plates export offer to South Korea on a rise in Oct'21

The export offers for heavy plates (SS400) from China to South Korea increased further in the second week of Oct'21, as per SteelDaily's recent report. The offer for said product stands at around $960/t CFR South Korea for December deliveries, up by $10/t against the previous week's offer.

The secondary market in South Korea has been on a downward trend, and plate market officials have grown concerned that this increase in Chinese export offers might bring a halt to the downward moment.

As per the recent market developments, the local production curbs are reducing the volumes leading to an increase in cost burden with coking coal prices shooting up. This, in turn, is being reflected in the higher offers from the Chinese mills.

Also, it is anticipated that there might be a delay in supplies from domestic steel producers Hyundai and POSCO during the Sept-Dec quarter.

China heavy plate FOB export offers rise $30/t w-o-w- The Chinese heavy plate export offers have increased up to $925-940/t FOB contrasted against $895-910/t FOB a week back.