Slack activity in Chinese domestic semi-finished steel market

Tuesday, 10 January 2017 14:14:48 (GMT+3)   |   Shanghai
       

During the week ending January 10, Chinese domestic semi-finished steel prices have fluctuated, with both increases and decreases observed, 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, China has initiated investigations in relation to intermediate frequency melting furnaces, which has reducing supply, thereby providing a certain degree of support for semi-finished steel prices in the domestic market. In this context, some Chinese steelmakers have raised their semi-finished steel prices. However, demand from downstream users has been slack and transaction activities are at low levels. It is thought that semi-finished steel prices in the Chinese domestic market will likely move sideways amid the traditional off-season 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

2,900

419

70

Jinzhong

2,750

397

30

Fuzhou

2,850

412

20

Jiangyin

2,900

419

50

Average price

2,850

412

8

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,000

434

60

Jinzhong

2,850

412

30

Fuzhou

2,950

426

10

Jiangyin

3,000

434

50

Average price

2,950

426

8

Slab

250*1800*6000

Q235

Tangshan, Hebei

2,800

405

0


All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.92

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