Slack activity in Chinese domestic semi-finished steel market

Tuesday, 29 November 2016 13:55:24 (GMT+3)   |   Shanghai
       

During the week ending November 29, Chinese domestic semi-finished steel prices have moved on an upward trend, while transaction activity in the market has been at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, the rising trend of ferrous metal futures prices in China has exerted a positive impact on finished steel prices in the spot market. Meanwhile, buyers have mostly maintained a wait-and-see stance towards purchases of semi-finished steel, resulting in low levels of transaction activity in the market. Production limitations for environmental protection purposes in China's northern region will provide support for semi-finished steel prices. It is thought that semi-finished steel prices in the Chinese domestic market will likely move on an upward trend 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

2,850

413

300

Jinzhong

2,700

391

280

Fuzhou

2,700

391

170

Jiangyin

2,900

420

170

Average price

2,788

404

230

Billet

150 mm x 150 mm

20 MnSi

Tangshan

2,930

425

300

Jinzhong

2,800

406

280

Fuzhou

2,800

406

170

Jiangyin

3,000

435

170

Average price

2,883

418

230

Slab

250*1800*6000

Q235

Tangshan, Hebei

2,780

403

300

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.90


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