During the week ending August 11, domestic semi-finished steel prices in China have generally indicated a declining trend as regards billet, though billet prices have remained stable in the provinces of Jiangsu and Fujian, while slab prices have indicated a slight rising trend. Transaction activity in the overall market has improved compared to the previous week, though still remaining at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
Since steelmakers in northern China will be obliged to restrict production with the approach of the 70th anniversary of victory in the war against Japan, the supply volume of semi-finished steel will likely decline, which will provide some support for domestic semi-finished steel prices. It is expected that semi-finished steel prices in the Chinese domestic market will move sideways in the coming week amid the loss of upward momentum in finished steel prices.
| Product name | Specification (mm) | Category | City | Price | Price (US$/mt) | Weekly change |
| (RMB/mt) | (RMB/mt) | |||||
| Billet | 150 x 150 | Q195-235 | Jiangyin,Jiangsu | 1,860 | 294 | ↓40 |
| Jinzhong,Shanxi | 1,920 | 303 | 0 | |||
| Tangshan,Hebei | 1,850 | 292 | 0 | |||
| Fuzhou,Fujian | 1,830 | 289 | ↓20 | |||
| Average price | 1,865 | 295 | ↓15 | |||
| Billet | 150 x 150 | 20MnSi | Jiangyin,Jiangsu | 2,000 | 316 | ↓20 |
| Jinzhong,Shanxi | 1,950 | 308 | ↓20 | |||
| Tangshan,Hebei | 1,960 | 310 | 0 | |||
| Fuzhou,Fujian | 2,020 | 319 | 0 | |||
| Average price | 1,983 | 313 | ↓10 | |||
| Slab | 250 x 1,800 x 6,000 | Q235 | Tangshan,Hebei | 1,900 | 300 | ↑40 |
The prices are on actual weight basis, 17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.33