Significant declines in local Chinese semi-finished steel market

Tuesday, 28 March 2017 15:15:15 (GMT+3)   |   Shanghai
       

During the week ending March 28, Chinese domestic semi-finished steel prices have indicated significant declines, while transaction activity in the market has been slacker than in the previous week and is now at low-to-medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, the significant decline trend of ferrous metal futures prices in China has exerted a negative impact on steel prices in the domestic spot market. Market players are now mostly maintaining a wait-and-see stance at present, while rolling mills lack confidence in the future prospects for finished steel prices and so they have been unwilling to conclude purchases of semi-finished steel, resulting in slack activity in the market. It is thought that semi-finished steel prices in the Chinese domestic market will likely move down further 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

3,090

449

↓260

Jinzhong

3,030

440

↓230

Fuzhou

3,200

465

↓230

Jiangyin

3,270

475

↓280

Average price

3,148

457

↓250

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,190

464

↓230

Jinzhong

3,120

453

↓260

Fuzhou

3,300

480

↓230

Jiangyin

3,410

496

↓220

Average price

3,255

473

↓235

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,120

453

↓230

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.88


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