During the week ending May 24, semi-finished steel prices in the Chinese domestic market have declined, 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.
Amid ongoing declines in domestic finished steel prices, rolling plants in China have reduced their purchases of semi-finished steel, negatively affecting semi-finished steel prices. Meanwhile, bearish sentiment has started to prevail in the ferrous metal markets, especially with the approach of the offseason in summer for finished steel. It is thought that semi-finished steel prices in the Chinese domestic market will likely 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 | 1,900 | 290 | ↓50 | |
Jinzhong | 1,880 | 287 | ↓40 | |||
Fuzhou | 2,150 | 328 | ↓20 | |||
Jiangyin | 2,000 | 305 | ↓100 | |||
Average price | 1,983 | 303 | ↓53 | |||
12 mm x 12 mm | 20 MnSi | Tangshan | 2,000 | 305 | ↓50 | |
Jinzhong | 1,980 | 302 | ↓40 | |||
Fuzhou | 2,250 | 344 | ↓30 | |||
Jiangyin | 2,100 | 321 | ↓100 | |||
Average price | 2,083 | 318 | ↓55 | |||
250*1800*6000 | Q235 | Tangshan,Hebei | 1,950 | 298 | ↓100 |
The above prices include 17 percent VAT
$1 = RMB 6.52