Stable trend in local Chinese semi-finished steel market

Tuesday, 26 January 2016 14:43:58 (GMT+3)   |   Shanghai
       

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 However, the Chinese government's efforts to tackle outdated capacity and oversupply in the steel industry are expected to provide some support for semi-finished steel prices.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)

Billet

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

Billet

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

Slab

250*1800*6000

Q235

Tangshan,Hebei

1,650

251

0

The above prices include 17 percent VAT
 
$1 = RMB 6.58


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