Chinese domestic semi-finished steel prices follow a rising trend

Tuesday, 14 November 2017 16:28:19 (GMT+3)   |   Shanghai
       

During the week ending November 14, Chinese domestic semi-finished steel prices have moved on a rising trend, while transaction activity in the market has been at low-to-medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, increases in ferrous metal futures prices in China as well as some shortages of semi-finished steel supply have provided support for rises in domestic semi-finished steel prices. While upcoming production cuts will reduce semi-finished steel supply, demand from downstream users has lacked strength. It is thought that in the coming week semi-finished steel prices in the Chinese market are unlikely to rise significantly after recent increases, but will instead move sideways.

Product Name

Spec.

Category

City

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Billet

150 mm x 150 mm

Q195-Q235

Tangshan

3,870

583

↑210

Jinzhong

3,740

563

↑150

Fuzhou

3,810

574

↑70

Jiangyin

3,950

595

↑100

Average price

3,843

579

↑133

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,970

598

↑210

Jinzhong

3,860

581

↑150

Fuzhou

3,910

589

↑70

Jiangyin

4,100

617

↑100

Average price

3,960

596

↑133

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,860

581

↑150

 

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.64

 


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