During the week ending February 7, Chinese domestic semi-finished steel prices have indicated a declining trend, while transaction activity in the overall 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, ferrous metal futures prices in China have indicated significant declines, exerting negative pressure on semi-finished steel prices in the domestic spot market and also curbing speculation in the market. Meanwhile, demand is still slack, with transaction activity still very quiet in the market. Some traders 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. With demand expected to pick up and market sentiment likely to improve in the week ahead, it is thought that semi-finished steel prices in the Chinese market will move sideways.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| 150 mm x 150 mm | Q195-Q235 | Tangshan | 2,850 | 414 | ↓50 | |
| Jinzhong | 2,750 | 400 | ↓50 | |||
| Fuzhou | 2,900 | 422 | 0 | |||
| Jiangyin | 3,100 | 451 | 0 | |||
| Average price | 2,900 | 422 | ↓25 | |||
| 150 mm x 150 mm | 20 MnSi | Tangshan | 2,950 | 429 | ↓150 | |
| Jinzhong | 2,850 | 414 | ↓50 | |||
| Fuzhou | 3,000 | 436 | 0 | |||
| Jiangyin | 3,200 | 465 | 0 | |||
| Average price | 3,000 | 436 | ↓20 | |||
| 250*1800*6000 | Q235 | Tangshan, Hebei | 2,880 | 419 | 0 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.88