During the week ending June 11, Chinese domestic semi-finished steel prices have moved on an overall downward trend, 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, demand for semi-finished steel in China has shown some improvement, providing support for prices against a backdrop of lower inventory levels. However, finished steel prices have softened, exerting a negative impact on semi-finished steel prices. Meanwhile, demand will be slack during the traditional offseason, which will negatively affect the semi-finished steel market. Following the Dragon Boat Festival holiday (June 7-9), iron ore futures prices at Dalian Commodity Exchange (DCE) have indicated sharp rises due to reports of a supply shortage from Rio Tinto in July and August, and this will bolster semi-finished steel prices. It is thought that semi-finished steel prices in the Chinese market will edge down slightly in the coming week.
|
Product Name |
Spec. |
Category |
City |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
150 mm x 150 mm |
Q195-Q235 |
Tangshan |
3,510 |
508 |
↓30 |
|
|
Jinzhong |
3,480 |
504 |
↓80 |
|||
|
Fuzhou |
3,650 |
528 |
↓50 |
|||
|
Jiangyin |
3,600 |
521 |
↓20 |
|||
|
Average price |
3,560 |
515 |
↓45 |
|||
|
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,610 |
522 |
↓30 |
|
|
Jinzhong |
3,580 |
518 |
↓80 |
|||
|
Fuzhou |
3,750 |
543 |
↓50 |
|||
|
Jiangyin |
3,720 |
538 |
↓20 |
|||
|
Average price |
3,665 |
530 |
↓45 |
|||
|
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,500 |
507 |
↓50 |
All prices are ex-warehouse and on actual weight basis and include 13 percent VAT.
$1 = RMB 6.91