During the week ending December 20, 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, steelmakers in China have increased semi-finished steel production, filling some of the gaps in supply in the semi-finished steel market caused by the closure of many intermediate frequency melting furnaces. Meanwhile, finished steel prices and ferrous metal futures prices have indicated significant decreases, exerting negative pressure on semi-finished steel prices. Market players are mostly downbeat as regards the future prospects for the trend of the semi-finished steel market. It is thought that semi-finished steel prices in the Chinese domestic market will likely continue their downward trend 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 | 3,000 | 432 | ↓150 |
| Jinzhong | 2,920 | 421 | ↓130 | |||
| Fuzhou | 3,100 | 447 | 0 | |||
| Jiangyin | 3,200 | 461 | ↓50 | |||
| Average price | 3,055 | 440 | ↓83 | |||
| Billet | 150 mm x 150 mm | 20 MnSi | Tangshan | 3,100 | 447 | ↓150 |
| Jinzhong | 3,020 | 435 | ↓130 | |||
| Fuzhou | 3,200 | 461 | 0 | |||
| Jiangyin | 3,300 | 476 | ↓50 | |||
| Average price | 3,155 | 455 | ↓83 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan, Hebei | 3,000 | 432 | ↓150 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.94