During the week ending November 24, domestic prices of semi-finished steel in China have mostly followed 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, suppliers of semi-finished steel have lowered their prices in order to attract business, though some sellers have kept their prices stable given the slackness of activity in the market. Meanwhile, the decreasing trend in iron ore and finished steel prices have exerted a negative impact on semi-finished steel prices. At the same time, demand for semi-finished steel is expected to decrease further in the coming period amid declining temperatures. It is thought that semi-finished steel prices in the Chinese market will likely continue their downtrend in the coming week.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Billet | 12 mm x 12 mm | Q195-Q235 | Tangshan | 1,58 | 247 | 0 |
| Jinzhong | 1,55 | 243 | ↓20 | |||
| Fuzhou | 1,62 | 254 | 0 | |||
| Jiangyin | 1,63 | 255 | ↓20 | |||
| Average price | 1,595 | 250 | ↓10 | |||
| Billet | 12 mm x 12 mm | 20 MnSi | Tangshan | 1,68 | 263 | 0 |
| Jinzhong | 1,65 | 258 | ↓20 | |||
| Fuzhou | 1,72 | 269 | 0 | |||
| Jiangyin | 1,73 | 271 | ↓20 | |||
| Average price | 1,695 | 265 | ↓10 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan,Hebei | 1,6 | 250 | ↓20 |
The above prices include 17 percent VAT.
$1 = RMB 6.39