During the week ending May 31, semi-finished steel prices in the Chinese domestic market have continued their declining trend, while transaction activity in the overall market has been at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
During the given week, rolling mills' purchases of semi-finished steel have been at low levels, resulting in declines in prices. Steelmakers have reduced supplies of semi-finished steel, while bearish sentiment prevails in the market. Concern for China's economy is growing, negatively affecting the steel industry. It is thought that semi-finished steel prices in the Chinese market will 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 | 1,880 | 286 | ↓20 | |
Jinzhong | 1,830 | 278 | ↓50 | |||
Fuzhou | 2,040 | 310 | ↓110 | |||
Jiangyin | 1,980 | 301 | ↓20 | |||
Average price | 1,933 | 294 | ↓50 | |||
12 mm x 12 mm | 20 MnSi | Tangshan | 1,980 | 301 | ↓20 | |
Jinzhong | 1,930 | 293 | ↓50 | |||
Fuzhou | 2,140 | 325 | ↓110 | |||
Jiangyin | 2,060 | 313 | ↓40 | |||
Average price | 2,028 | 308 | ↓55 | |||
250*1800*6000 | Q235 | Tangshan,Hebei | 1,900 | 289 | ↓50 |
The above prices include 17 percent VAT
$1 = RMB 6.58