During the week ending March 7, Chinese domestic semi-finished steel prices have indicated downward movement, while transaction activity in the market has slackened and is now at low-to-medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
During the given week, semi-finished steel prices in the Chinese domestic market have decreased, resulting in a reduction in speculative purchases in the market. Iron ore prices have softened, exerting negative pressure on domestic semi-finished steel prices. Many buyers are unwilling to conclude purchases and are maintaining a wait-and-see stance. It is thought that semi-finished steel prices in the Chinese domestic market will likely move down further in the coming week.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| 150 mm x 150 mm | Q195-Q235 | Tangshan | 3,230 | 469 | ↓150 | |
| Jinzhong | 3,100 | 450 | ↓150 | |||
| Fuzhou | 3,350 | 486 | ↓100 | |||
| Jiangyin | 3,450 | 501 | ↓50 | |||
| Average price | 3,282 | 476 | ↓112 | |||
| 150 mm x 150 mm | 20 MnSi | Tangshan | 3,350 | 486 | ↓150 | |
| Jinzhong | 3,200 | 464 | ↓150 | |||
| Fuzhou | 3,450 | 501 | ↓100 | |||
| Jiangyin | 3,600 | 522 | ↓30 | |||
| Average price | 3,400 | 493 | ↓108 | |||
| 250*1800*6000 | Q235 | Tangshan, Hebei | 3,250 | 472 | ↓100 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.89