During the week ending April 9, Chinese domestic semi-finished steel prices have indicated an overall upward trend, 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.
During the given week, more steelmakers’ blast furnaces have resumed production, increasing the supply of semi-finished steel to the market. At the same time, the reduction in value-added tax for downstream industries in China has exerted a positive impact on the demand for semi-finished steel, reducing the inventories of semi-finished steel held by semi-finished steel producers and traders. Meanwhile, ferrous metal futures prices in China have moved up significantly, exerting a positive impact on the semi-finished steel market. It is expected that semi-finished steel prices in the Chinese domestic market will increase further 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 |
3,550 |
529 |
↑100 |
|
|
Jinzhong |
3,550 |
529 |
↑100 |
|||
|
Fuzhou |
3,650 |
544 |
↑50 |
|||
|
Jiangyin |
3,740 |
557 |
↑100 |
|||
|
Average price |
3,623 |
540 |
↑88 |
|||
|
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,650 |
544 |
↑100 |
|
|
Jinzhong |
3,650 |
544 |
↑100 |
|||
|
Fuzhou |
3,750 |
559 |
↑50 |
|||
|
Jiangyin |
3,860 |
575 |
↑100 |
|||
|
Average price |
3,728 |
556 |
↑88 |
|||
|
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,770 |
562 |
↑100 |
All prices are ex-warehouse and on actual weight basis and include 13 percent VAT.
$1 = RMB 6.71