Chinese domestic semi-finished steel market moved on rising trend

Tuesday, 28 June 2016 16:52:35 (GMT+3)   |   Shanghai
       


During the week ending June 28, Chinese domestic semi-finished steel prices have indicated upward movement, while transaction activity in the overall market is still at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the table below.

Against the backdrop of news of the planned merger between Baosteel Group and Wuhan Iron and Steel Group, steelmakers and traders in China have increased their semi-finished steel offer prices in the past week. Meanwhile, previous output cuts by steelmakers have had an impact, lowering the supply pressure on the semi-finished steel market and providing support for domestic semi-finished steel prices. Currently, bullish sentiment still prevails in the finished steel market and this has also provided support for semi-finished steel prices. However, real demand for finished steel and semi-finished steel in China has not improved. It is thought that semi-finished steel prices in the Chinese domestic market may just indicate slight upticks in the coming week.

 

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

12 mm x 12 mm

Q195-Q235

Tangshan

2,000

301

100

Jinzhong

1,900

286

50

Fuzhou

1,960

295

10

Jiangyin

2,000

301

20

Average price

1,965

296

45

Billet

12 mm x 12 mm

20 MnSi

Tangshan

2,100

316

100

Jinzhong

2,000

301

50

Fuzhou

2,070

312

20

Jiangyin

2,100

316

40

Average price

2,068

311

53

Slab

250*1800*6000

Q235

Tangshan,Hebei

1,980

298

60

The above prices include 17 percent VAT
 
$1 = RMB 6.64


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