During the week ending January 24, Chinese domestic semi-finished steel prices have indicated a declining trend, while transaction activity in the overall market has been lower than in the previous week and is currently slack. 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 moved on a soft trend, exerting negative pressure on semi-finished steel prices in the domestic spot market, while also curbing speculative sentiment in the market. Meanwhile, demand is slack due to the approach of the Chinese New Year holiday. It is thought that semi-finished steel prices in the Chinese market will remain on a stable trend during the holiday period and will likely also move sideways after the holiday.
Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
150 mm x 150 mm | Q195-Q235 | Tangshan | 2,900 | 423 | ↓100 | |
Jinzhong | 2,800 | 408 | ↓60 | |||
Fuzhou | 2,900 | 423 | 0 | |||
Jiangyin | 3,100 | 452 | 0 | |||
Average price | 2,925 | 426 | ↓40 | |||
150 mm x 150 mm | 20 MnSi | Tangshan | 3,000 | 437 | ↓100 | |
Jinzhong | 2,900 | 423 | ↓50 | |||
Fuzhou | 3,000 | 437 | 0 | |||
Jiangyin | 3,200 | 466 | 0 | |||
Average price | 3,025 | 441 | ↓38 | |||
250*1800*6000 | Q235 | Tangshan, Hebei | 2,880 | 420 | ↓70 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.86