Chinese domestic semi-finished steel market moves upwards

During the week ending February 16, semi-finished prices in the Chinese domestic market have moved on a rising trend, while transaction activity in the overall market has been quiet. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

Some traders of semi-finished steel have returned to the market after the holiday, but have generally just been renewing contact with customers, while rolling plants have not yet resumed their purchases. Meanwhile, finished steel futures prices and iron ore prices have indicated a rising trend, providing a certain degree of support for the increase of domestic semi-finished steel prices. It is thought that semi-finished steel prices in the Chinese domestic market will likely indicate a slight rising trend in the coming week. 

 

 

The above prices include 17 percent VAT 

 

$1 = RMB 6.53