Local Chinese semi-finished steel prices continue to move down

Tuesday, 06 August 2019 14:02:22 (GMT+3)   |   Shanghai
       

During the week ending August 6, Chinese domestic semi-finished steel prices have continued their downtrend, 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, ferrous metal futures prices in China have moved down, while iron ore prices have also softened, with these factors weakening the support for domestic semi-finished steel prices. Chinese steelmakers will increase their capacity utilization rates in the coming week, which will boost demand for semi-finished steel. It is expected that semi-finished steel prices in the Chinese domestic market will fluctuate within a limited range 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

506

↓80

Jinzhong

3,560

506

↓80

Fuzhou

3,590

510

↓70

Jiangyin

3,600

511

↓100

Average price

3,578

508

↓83

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,660

520

↓80

Jinzhong

3,660

520

↓80

Fuzhou

3,690

524

↓70

Jiangyin

3,720

528

↓100

Average price

3,683

523

↓83

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,450

490

↓80

 

All prices are ex-warehouse and on actual weight basis and include 13 percent VAT.

$1 = RMB 7.04


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