During the week ending May 3, semi-finished steel prices in the Chinese domestic market have mostly indicated downward corrections, though remaining stable in Jiangsu Province, while transaction activity in the overall market has slackened compared to the previous week. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
During the given week, steelmakers and traders have been more willing to sell as speculation weakened in ferrous metal market, resulting in declines in semi-finished steel prices. Meanwhile, buyers have been unwilling to make purchases amid the downward movement of prices. It is thought that domestic semi-finished steel prices will likely move sideways or indicate slight downticks 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 |
2,420 |
374 |
↓100 |
Jinzhong |
2,400 |
371 |
↓80 |
|||
Fuzhou |
2,500 |
386 |
↓50 |
|||
Jiangyin |
2,500 |
386 |
0 |
|||
Average price |
2,455 |
379 |
↓58 |
|||
Billet |
12 mm x 12 mm |
20 MnSi |
Tangshan |
2,520 |
389 |
↓100 |
Jinzhong |
2,500 |
386 |
↓80 |
|||
Fuzhou |
2,600 |
402 |
↓60 |
|||
Jiangyin |
2,600 |
402 |
0 |
|||
Average price |
2,555 |
395 |
↓60 |
|||
Slab |
250*1800*6000 |
Q235 |
Tangshan,Hebei |
2,500 |
386 |
↓50 |
The above prices include 17 percent VAT
$1 = RMB 6.47