Stable trend for Chinese semi finished steel

SteelOrbis Shanghai Chinese semi finished steel has been stable over last week after the continuous price increase. Prices in some regions, which had not increased in line with the market, slightly went up last week, making exports more difficult. Many traders have not concluded any export deals in the last two weeks. Sources report that the latest offers for the shipments of Russian-origin semis products to Taiwan are at $350/mt CIF. The billet import prices in Vietnam have been reported at $360/mt CIF. The overall slight fall in Chinese finished steel prices suppressed rolling mills' activity in placing orders, leading to little number of deals. As steelmakers' production tasks for March and even April deliveries have been full, they do not have any reasons to lower the ex-factory prices. On March 15, the common carbon billet price in Tangshan, Hebei Province is RMB 2,750/mt ($342), and that of 20 MnSi is RMB 2,800/mt ($348). Both prices equal to the previous week. The price of billet produced by Jinan Steel is up RMB 50/mt ($6) to RMB 2,700/mt ($336). The semis prices are expected to remain stable with slight falls in some regions.