SteelOrbis Shanghai
On the back of increase in finished steel prices, Chinese semi finished prices saw considerable increase with normal transaction volume. Influenced by ex-factory prices, price quotations for export products also recorded an increase with good sales figure.
CIS countries' iron and steel products faced obstacles in exports due to the unfavorable Black Sea transportation, leaving market shares to Chinese mills. Therefore,
China's
semis export is brisk.
However, market sources report that the Black Sea transportation resumes operation gradually, threatening Chinese
semis export. Moreover,
China's export offers will fail to attract buyers' interest due to its increasing domestic prices.
China's
semis export prices are expected to go down, while domestic market prices keep going up.
By the close of
trading on Wednesday, March 1, the common carbon
billet price in Tangshan, Hebei Province is up RMB 60/mt ($7) to RMB 2,600/mt ($323), that of 20MnSi is up RMB 50/mt ($6) to RMB 2,650/mt ($330).
Export offer at Tianjin Port is up $10/mt to $335/mt.
Chinese steel market was in an upward trend over the past week, HR and CR prices even saw larger increase range. Though the transaction volume did not obviously pick up,
semis producers raised ex-factory prices of semi finished steel, which was accepted by customers. Price stayed steady afterwards.