During the week ending November 10, domestic prices of semi-finished steel in China have moved on a declining trend, while transaction activity in the overall market has been at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
During the given week, bearish sentiment has prevailed among semi-finished steel traders, exerting a negative impact on prices. Prices of raw materials, including iron ore, coke and scrap, have been characterized by soft trends, weakening the support for semi-finished steel prices. Meanwhile, since winter is approaching, market participants mostly hold a pessimistic view of the future prospects for finished steel prices. It is expected that semi-finished steel prices in the Chinese domestic market will continue their downward trend in the coming week.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| 150 mm x 150 mm | Q195-Q235 | Tangshan | 1,600 | 252 | ↓50 | |
| Jinzhong | 1,570 | 247 | ↓60 | |||
| Fuzhou | 1,680 | 265 | ↓20 | |||
| Jiangyin | 1,700 | 268 | ↓50 | |||
| Average price | 1,683 | 258 | ↓45 | |||
| 150 mm x 150 mm | 20 MnSi | Tangshan | 1,700 | 268 | ↓70 | |
| Jinzhong | 1,690 | 266 | ↓60 | |||
| Fuzhou | 1,780 | 280 | ↓20 | |||
| Jiangyin | 1,800 | 283 | ↓50 | |||
| Average price | 1,743 | 274 | ↓50 | |||
| 250*1800*6000 | Q235 | Tangshan,Hebei | 1,670 | 263 | ↓50 |
The above prices include 17 percent VAT ($1 = RMB 6.35)