Asian plate prices rose in the week to Jan. 18 amid limited supply of cargoes prior to the Lunar New Year holidays and positive market outlook.

          Platts assessed SS400, 12-20 mm thick plate at $640/mt FOB China, up $20/mt on the week. The same-grade 12-25 mm thick material was assessed at $655/mt CFR South Korea, up $20/mt over the same period.

          Trading activity dried up in China, as most participants began their holidays and no offers or orders were heard.

          “No offer or orders now; the focus is to consider various aspects, so orders might only conclude if the price is suitable, and this will be a higher level than the week before,” a Chinese mill source said.

          Most expect the market to be on an uptrend post holidays, though the extent and duration of the uptick were not clear.

          In the export market, a major east Chinese private mill increased its base SS400 offer by $10/mt from Jan. 11 to Jan. 16, though market activity was quiet.

          Chinese domestic prices of Q235-grade material were assessed at Yuan 4,250/mt ex-stock Shanghai, including VAT, up Yuan 30/mt on the week.