During the week ending September 10, Chinese domestic semi-finished steel prices have moved up, while transaction activity in the market has been at medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
Product name |
Specification (mm) |
Category |
City |
Price |
Price (USD/mt) |
Weekly Change |
Weekly Change |
150 x 150 |
Q195-235 |
Jiangyin,Jiangsu |
3,550 |
501.1 |
+100 |
+14 |
|
Jinzhong,Shanxi |
3,390 |
478.5 |
+50 |
+7 |
|||
Tangshan,Hebei |
3,390 |
478.5 |
+40 |
+6 |
|||
Fuzhou,Fujian |
3,490 |
492.7 |
+30 |
+4 |
|||
Average price |
3,455 |
487.7 |
+55 |
+8 |
|||
150 x 150 |
20MnSi |
Jiangyin,Jiangsu |
3,670 |
518.1 |
+100 |
+14 |
|
Jinzhong,Shanxi |
3,490 |
492.7 |
+50 |
+7 |
|||
Tangshan,Hebei |
3,490 |
492.7 |
+40 |
+6 |
|||
Fuzhou,Fujian |
3,590 |
506.8 |
+30 |
+4 |
|||
Average price |
3,560 |
502.5 |
+55 |
+8 |
|||
250 x 1,800 x 6,000 |
Q235 |
Tangshan,Hebei |
3,500 |
494.1 |
+70 |
+10 |
All prices are ex-warehouse and on actual weight basis and include 13 percent VAT.
During the given week, the demand and supply situation in the local Chinese semi-finished steel market has improved, resulting in price rises. Meanwhile, the People’s Bank of China (PBC) announced on September 6 that it has decided to lower the required reserve ratio (RRR) for financial institutions by 0.5 percentage points on September 16, boosting market players’ sentiments in ferrous metal market. However, following the rises in semi-finished steel prices, buyers have been reluctant to conclude purchases on the upper end of the price range. Market sources believe that domestic semi-finished steel prices in China are unlikely to indicate a sharp increase in the coming week.
$1=RMB 7.085