During the week ending December 26, Chinese domestic semi-finished steel prices have decreased significantly, while transaction activity in the market has been at low levels in the same period. Average prices of steel billet and slab in the local Chinese market are presented in the table below.
During the given week, rebar futures prices at Shanghai Futures Exchange (SHFE) have also declined week on week, exerting at a negative impact on semi-finished steel prices in the spot market. Market participants have been pessimistic towards the future trend of the semi-finished steel market, while buyers have maintained a cautious stance as regards new semi-finished purchases, instead waiting for lower prices. However, with domestic semi-finished steel prices in China edging down, some buyers will likely build up their inventories. It is thought that semi-finished steel prices in the Chinese domestic market will edge down further 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 |
3,670 |
559 |
↓280 |
|
|
Jinzhong |
3,640 |
555 |
↓230 |
|||
|
Fuzhou |
4,030 |
614 |
↓70 |
|||
|
Jiangyin |
4,010 |
611 |
↓240 |
|||
|
Average price |
3,838 |
585 |
↓205 |
|||
|
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,790 |
578 |
↓280 |
|
|
Jinzhong |
3,760 |
573 |
↓230 |
|||
|
Fuzhou |
4,130 |
630 |
↓70 |
|||
|
Jiangyin |
4,160 |
634 |
↓240 |
|||
|
Average price |
3,960 |
604 |
↓205 |
|||
|
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,850 |
587 |
↓100 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.56