During the week ending January 26, semi-finished steel prices in the Chinese domestic market have indicated stable movement, 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, cold weather has negatively affected transaction activities for semi-finished steel in China, while prices have remained stable. The negative impact of the bad weather on construction activities has caused rolling mills to suspend their purchases of semi-finished steel. Approaching the Chinese New Year (February 8-14), demand for semi-finished steel will slacken further. However, the Chinese government's efforts to tackle outdated capacity and oversupply in the steel industry are expected to provide some support for semi-finished steel prices. It is expected that semi-finished steel prices in the Chinese domestic market will likely continue their stable 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 | 1,670 | 254 | 0 | |
Jinzhong | 1,650 | 251 | 0 | |||
Fuzhou | 1,650 | 251 | 0 | |||
Jiangyin | 1,650 | 251 | 0 | |||
Average price | 1,655 | 252 | 0 | |||
12 mm x 12 mm | 20 MnSi | Tangshan | 1,770 | 269 | 0 | |
Jinzhong | 1,750 | 266 | 0 | |||
Fuzhou | 1,750 | 266 | 0 | |||
Jiangyin | 1,750 | 266 | 0 | |||
Average price | 1,755 | 267 | 0 | |||
250*1800*6000 | Q235 | Tangshan,Hebei | 1,650 | 251 | 0 |
The above prices include 17 percent VAT
$1 = RMB 6.58