Chinese domestic semi-finished steel market continues its upward trend

Tuesday, 04 July 2017 15:27:00 (GMT+3)   |   Shanghai
       

During the week ending July 4, Chinese domestic semi-finished steel prices have continued their rising trend, while transaction activity in the market has been at medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, the rising trend of ferrous metals futures prices in China has provided support for the upward movement of semi-finished steel prices. Meanwhile, some steelmakers have been implementing maintenance works, providing support for semi-finished steel prices from the supply side. As for the coming week, supply is not expected to increase. However, the recent quick rises in prices have exerted a negative impact on the purchasing activities of downstream users. It is thought that semi-finished steel prices will likely indicate a slight downtrend in the coming week. 

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

150 mm x 150 mm

Q195-Q235

Tangshan

3,340

491

↑120

Jinzhong

3,250

478

↑100

Fuzhou

3,470

510

↑170

Jiangyin

3,450

507

↑100

Average price

3,378

497

↑123

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,440

506

↑120

Jinzhong

3,370

496

↑100

Fuzhou

3,570

525

↑170

Jiangyin

3,600

529

↑100

Average price

3,495

514

↑123

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,120

459

↑100

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.80


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