Chinese domestic semi-finished steel market moves on soft trend

During the week ending January 3, Chinese domestic semi-finished steel prices have indicated a declining trend, while transaction activity in the market has been at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, traders have mostly been downbeat on the prospects for the semi-finished steel market and have been eager to sell to lower their inventories and so they have reduced their prices . Meanwhile, demand is slack amid the traditional winter off-season. It is thought that semi-finished steel prices in the Chinese domestic market will soften 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	2,830	407	0
			Jinzhong	2,720	391	0
			Fuzhou	2,870	413	↓30
			Jiangyin	2,950	424	50
			Average price	2,843	409	5
Billet	150 mm x 150 mm	20 MnSi	Tangshan	2,940	423	0
			Jinzhong	2,820	406	0
			Fuzhou	2,960	426	↓40
			Jiangyin	3,050	439	↓50
			Average price	2,943	423	↓23
Slab	250*1800*6000	Q235	Tangshan, Hebei	2,800	403	0

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.95