During the week ending January 5, domestic prices of semi-finished steel in China have indicated an upward trend, while transaction activity in the overall market has been better than in the previous week and is now at decent levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
During the given week, the rebound in finished steel prices has caused steelmakers to increase their semi-finished steel prices. Meanwhile, rolling plants, despite a certain degree of caution, have stepped up their purchases of semi-finished steel. In addition, inventories of semi-finished steel have been at relatively low levels, providing some support for prices. It is expected that semi-finished steel prices in the Chinese domestic market will continue their rising 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 | 1,600 | 245 | ↑60 |
| Jinzhong | 1,580 | 242 | ↑80 | |||
| Fuzhou | 1,640 | 251 | ↑100 | |||
| Jiangyin | 1,650 | 253 | ↑50 | |||
| Average price | 1,618 | 248 | ↑73 | |||
| Billet | 12 mm x 12 mm | 20 MnSi | Tangshan | 1,700 | 260 | ↑70 |
| Jinzhong | 1,690 | 259 | ↑90 | |||
| Fuzhou | 1,740 | 266 | ↑110 | |||
| Jiangyin | 1,750 | 268 | ↑50 | |||
| Average price | 1,720 | 263 | ↑77 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan,Hebei | 1,650 | 253 | ↑100 |
The above prices include 17 percent VAT
$1 = RMB 6.53