Activity slackens in local Chinese semi-finished steel market

Tuesday, 12 January 2016 11:34:51 (GMT+3)   |   Shanghai
       

During the week ending January 12, domestic prices of semi-finished steel in most China have indicated a slight uptrend, while transaction activity in the overall market has been slacker than in the previous week and is currently at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the table below.

During the given week, the rebound in Chinese finished steel prices has contributed to the slight rises in domestic semi-finished steel prices. However, the rebound of finished steel prices is losing momentum, which will exert a negative impact on semi-finished steel prices. Rolling plants' inquiries and purchases have slackened, resulting in low activity in the semi-finished steel market. Approaching the Chinese New Year (February 8-14), rolling plants will likely halt their production lines, which will negatively impact semi-finished steel consumption in China. It is thought that semi-finished steel prices in the Chinese market will likely move sideways in the coming week.

 

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

12 mm x 12 mm

Q195-Q235

Tangshan

1,640

250

40

Jinzhong

1,600

244

20

Fuzhou

1,650

251

10

Jiangyin

1,650

251

0

Average price

1,635

249

18

Billet

12 mm x 12 mm

20 MnSi

Tangshan

1,750

266

50

Jinzhong

1,700

259

10

Fuzhou

1,750

266

10

Jiangyin

1,750

266

0

Average price

1,738

264

18

Slab

250*1800*6000

Q235

Tangshan,Hebei

1,650

251

0

The above prices include 17 percent VAT
 
$1 = RMB 6.57


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