Chinese domestic semi-finished prices soften after initial increases

Tuesday, 10 October 2017 16:08:17 (GMT+3)   |   Shanghai
       

During the week ending October 10, Chinese domestic semi-finished steel prices first increased but then started to move on 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 period, semi-finished steel prices in the Chinese domestic market first increased, but have been moving on a soft trend as of the afternoon of October 9. After the long holiday, rebar and HRC futures prices at Shanghai Futures Exchange (SHFE) initially moved up sharply, but have also been following a decreasing trend since the afternoon of October 9. Currently, demand for finished steel in China has not indicated any significant improvement, exerting a negative impact on the finished steel and semi-finished steel markets. It is thought that semi-finished steel prices will likely decline 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

3,500

532

0

Jinzhong

3,450

524

↑50

Fuzhou

3,710

564

↑10

Jiangyin

3,750

570

0

Average price

3,603

548

↑15

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,600

547

0

Jinzhong

3,570

543

↑50

Fuzhou

3,810

579

↑10

Jiangyin

3,900

593

0

Average price

3,720

565

↑15

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,680

559

↑80

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.5
8


Similar articles

Iran’s steel exports up 7.6 percent in first 11 months of Iranian year

20 Mar | Steel News

ASEAN mills keep billet export offers stable amid latest sales including slabs, China still bearish

12 Mar | Longs and Billet

Rumors of semis export ban or duty emerge in China after recent rise in activity

27 Feb | Steel News

Iran’s steel exports up 9.1 percent in first 10 months of Iranian year

14 Feb | Steel News

ASEAN mills rise semis offers again before year end, seeing stronger sentiment in China

26 Dec | Longs and Billet

Market assesses 12th EU sanctions package vs Russia as mainly toothless, but pig iron finally included

19 Dec | Steel News

EU sets quota for pig iron imports from Russia, extends slab import quota period

19 Dec | Steel News

EUROFER: Weakening EU sanctions on Russia risks being historic mistake

01 Dec | Steel News

Ex-ASEAN billet offers remain high, only rare buyers accept hike

14 Nov | Longs and Billet

Ex-ASEAN semis offers increase after sizable sales and uptrend in China

09 Nov | Longs and Billet