Local Chinese semi-finished steel prices edge down

Tuesday, 13 August 2019 13:08:49 (GMT+3)   |   Shanghai
       

During the week ending August 13, Chinese domestic semi-finished steel prices have continued the 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, the depreciation of Chinese currency has negatively affected the market participants’ sentiment. Ferrous metal futures prices have moved down, exerting a negative impact on semi-finished steel market. In August, the environmental protection measures have not implemented as strict as market players expected, resulting in low rate of inventory consumption. However, steelmakers preferred to bolster their semi-finished steel prices. 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

3,470

494

↓90

Jinzhong

3,470

494

↓90

Fuzhou

3,580

510

↓10

Jiangyin

3,550

506

↓50

Average price

3,518

501

↓60

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,570

509

↓90

Jinzhong

3,570

509

↓90

Fuzhou

3,680

524

↓10

Jiangyin

3,670

523

↓50

Average price

3,623

516

↓60

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,420

487

↓30

 

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

$1 = RMB 7.02


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