During the week ending May 16, Chinese domestic semi-finished steel prices have increased, while transaction activity in the market has improved and is now 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, ferrous metal futures prices in China have rebounded after previous significant declines, boosting the confidence of players in the domestic semi-finished steel market. In addition, the steel production restrictions due to the One Belt One Road Forum (BRF) and recent environmental protection measures have positively impacted domestic finished steel prices, and so some rolling mills have stepped up their purchases of semi-finished steel in order to take advantage of the higher finished steel prices. At the same time, domestic steel billet supply has continued to rise, thereby exerting some negative pressure on billet prices. It is thought that semi-finished steel prices in the Chinese domestic market will edge down slightly 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 | 2,990 | 434 | ↑80 |
| Jinzhong | 2,980 | 433 | ↑150 | |||
| Fuzhou | 3,110 | 451 | ↑80 | |||
| Jiangyin | 3,180 | 462 | ↑50 | |||
| Average price | 3,065 | 445 | ↑90 | |||
| Billet | 150 mm x 150 mm | 20 MnSi | Tangshan | 3,090 | 448 | ↑80 |
| Jinzhong | 3,100 | 450 | ↑150 | |||
| Fuzhou | 3,210 | 466 | ↑80 | |||
| Jiangyin | 3,330 | 483 | ↑50 | |||
| Average price | 3,182 | 462 | ↑90 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan, Hebei | 2,950 | 428 | 0 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.89