During the week ending May 10, semi-finished steel prices in the Chinese domestic market have indicated a sharp downtrend, while transaction activity in the overall market has continued to slacken and is currently weak. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
The sharp decreases in finished steel prices in China have caused domestic semi-finished steel prices to decline significantly. Meanwhile, bearish sentiment and strong price declines in the finished steel futures market have also negatively affected semi-finished steel prices. Due to the declines in finished steel prices, rolling mills have been reluctant to conclude purchases, resulting in poor activity in the semi-finished steel market. It is thought that semi-finished steel prices in the Chinese domestic market will likely continue their downward trend in the coming week.
Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
12 mm x 12 mm | Q195-Q235 | Tangshan | 1,950 | 299 | ↓470 | |
Jinzhong | 1,950 | 299 | ↓450 | |||
Fuzhou | 2,200 | 337 | ↓300 | |||
Jiangyin | 2,100 | 322 | ↓400 | |||
Average price | 2,050 | 314 | ↓405 | |||
12 mm x 12 mm | 20 MnSi | Tangshan | 2,050 | 314 | ↓470 | |
Jinzhong | 2,050 | 314 | ↓450 | |||
Fuzhou | 2,300 | 353 | ↓300 | |||
Jiangyin | 2,200 | 337 | ↓400 | |||
Average price | 2,150 | 330 | ↓405 | |||
250*1800*6000 | Q235 | Tangshan,Hebei | 2,150 | 330 | ↓350 |
The above prices include 17 percent VAT
$1 = RMB 6.52