Local Chinese billet prices soften, slab prices move sideways

Tuesday, 26 March 2019 14:00:29 (GMT+3)   |   Shanghai
       

During the week ending March 26, Chinese domestic steel billet prices have softened, though slab prices in Tangshan have moved sideways week on week, 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, domestic billet prices have moved down, while indicating relatively larger decreases in northern China. The declining trend of ferrous metal futures prices in China in the latter part of the given week has contributed to the downward trend in question. Uncertainty as to whether the production cuts due to environmental protection measures will be lifted in the near future has continued to negatively affect the semi-finished steel market. However, demand from downstream users is improving, and so the outlook for transaction activity is positive. It is expected that semi-finished steel prices in the Chinese domestic market will move sideways 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

3,450

514

↓90

Jinzhong

3,450

514

↓90

Fuzhou

3,560

531

↓40

Jiangyin

3,650

544

↓10

Average price

3,528

526

↓58

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,550

529

↓90

Jinzhong

3,550

529

↓90

Fuzhou

3,660

545

↓40

Jiangyin

3,770

562

↓10

Average price

3,633

541

↓58

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,670

547

0

 

All prices are ex-warehouse and on actual weight basis and include 16 percent VAT.

$1 = RMB 6.71

 


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