Chinese domestic semi-finished steel market continues its rising trend

During the week ending February 21, Chinese domestic semi-finished steel prices have again indicated upward movement, while transaction activity in the overall market 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, domestic finished steel prices have increased significantly, exerting a positive impact on semi-finished steel prices in China. Meanwhile, China's infrastructure investment growth is expected to pick up, providing solid support for domestic semi-finished steel prices in the market. Steelmakers have resumed their production after the recent holiday and demand for semi-finished steel has picked up, contributing to decent levels of transaction activity. Against the backdrop of improved market sentiment, it is thought that semi-finished steel prices in the Chinese domestic market will likely continue their upward trend in the coming week.

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.88