Activity slackens in local Chinese semi-finished steel market

Tuesday, 09 May 2017 14:11:20 (GMT+3)   |   Shanghai
       

During the week ending May 9, Chinese domestic semi-finished steel prices have declined, while transaction activity in the market has slackened and is now at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

In the early part of the past week, the rebound of Chinese domestic finished steel prices provided support for steel billet prices. However, coming to the latter part of the week, the Chinese ferrous metal futures market declined significantly, exerting a negative impact on the trend of domestic semi-finished steel prices. Meanwhile, demand has slackened and transaction activity is at low levels. Against the backdrop of reduced steel billet inventories, it is thought that semi-finished steel prices in the Chinese domestic market will likely edge up slightly in the coming week.

 

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

150 mm x 150 mm

Q195-Q235

Tangshan

2,910

422

↓70

Jinzhong

2,830

410

↓170

Fuzhou

3,030

439

↓120

Jiangyin

3,130

454

↓70

Average price

2,975

431

↓108

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,010

436

↓70

Jinzhong

2,950

428

↓170

Fuzhou

3,130

454

↓120

Jiangyin

3,280

475

↓40

Average price

3,093

448

↓100

Slab

250*1800*6000

Q235

Tangshan, Hebei

2,950

428

0

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.90


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