Chinese domestic semi-finished steel market continues to move up

During the week ending April 19, semi-finished steel prices in the Chinese domestic market have continued their rising trend, while transaction activity in the overall market has improved compared to the previous week. Average prices of steel billet and slab in the local Chinese market are presented in the table below.

During the given week, increases in prices of iron ore and finished steel have continued to rise, providing support for the further upward movement of domestic semi-finished steel prices. In addition, ferrous metal futures prices have indicated sharp rises compared to the previous week, contributing to the bullish sentiment in the semi-finished steel market. It is thought that semi-finished steel prices will likely continue their rising trend in the coming week.

The above prices include 17 percent VAT
 
$1 = RMB 6.47