Demand lacks strength in local Chinese semi-finished steel market

Tuesday, 20 March 2018 14:44:55 (GMT+3)   |   Shanghai
       

As of March 20, average domestic billet prices in China have increased slightly week on week, while domestic slab prices have slightly declined in the same period. Meanwhile, transaction activity in the Chinese domestic semi-finished steel market has been at low levels over the past week. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, domestic semi-finished steel prices first decreased but later moved back up, with average prices now more or less at the same levels as one week ago. Production cuts in northern China have exerted a negative impact on semi-finished steel prices. Meanwhile, due to cold weather hitting most regions of China, demand has not been good, which also negatively affected semi-finished steel prices. However, limited supply will likely provide some support for semi-finished steel prices. It is thought that domestic semi-finished steel prices in China will likely move upwards 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

3,560

562

0

Jinzhong

3,520

556

↓10

Fuzhou

3,730

589

0

Jiangyin

3,750

592

↑30

Average price

3,640

575

↑5

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,680

581

0

Jinzhong

3,640

575

↓10

Fuzhou

3,830

605

0

Jiangyin

3,850

608

↑30

Average price

3,750

592

↑5

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,900

616

↓10

                                                                                                                                               

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.33


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