Bullish sentiment prevails in Chinese domestic semi-finished steel market

Tuesday, 18 October 2016 15:11:36 (GMT+3)   |   Shanghai
       

During the week ending October 18, Chinese domestic semi-finished steel prices have indicated a rising trend, while transaction activity in the overall market has been at medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
 
During the given week, the rising trend of domestic finished steel prices has provided support for the upward movement of semi-finished steel prices in China. Meanwhile, rolling mills are now showing greater willingness to purchase semi-finished steel, resulting in better activity. With bullish sentiment prevailing in the domestic semi-finished steel market, Chinese steelmakers have increased their offer prices for semi-finished steel. It is thought that semi-finished steel prices in the Chinese domestic market will continue their upward trend in the coming week since market participants are mostly optimistic on the future prospects for the market.

 

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

150 mm x 150 mm

Q195-Q235

Tangshan

2,300

341

100

Jinzhong

2,200

326

80

Fuzhou

2,280

338

10

Jiangyin

2,300

341

100

Average price

2,270

337

73

Billet

150 mm x 150 mm

20 MnSi

Tangshan

2,400

356

90

Jinzhong

2,300

341

80

Fuzhou

2,380

353

20

Jiangyin

2,400

356

100

Average price

2,370

352

73

Slab

250*1800*6000

Q235

Tangshan, Hebei

2,290

340

20


All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.74


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