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) |
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 |
|||
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 |
|||
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