Local Chinese semi-finished steel prices mostly decline

Tuesday, 14 May 2019 14:55:31 (GMT+3)   |   Shanghai
       

During the week ending May 14, Chinese domestic semi-finished steel prices have mostly indicated a 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.

Following price rises in the previous two weeks, downstream users and traders in the domestic semi-finished steel market were unwilling to accept the relatively high prices of semi-finished steel. Meanwhile, some finished steel producers have implemented maintenance works after the Labor Day holiday, resulting in a reduction in demand for semi-finished steel. In addition, the US decision to hike tariffs on Chinese commodities has negatively affected the steel market. However, after semi-finished steel prices edged down, some buyers become more willing to conclude purchases, which provided some support for semi-finished steel prices. It is expected that semi-finished steel prices in the Chinese 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

3,530

513

↓ 60

Jinzhong

3,530

513

↓ 70

Fuzhou

3,740

544

↑10

Jiangyin

3,700

538

↓ 40

Average price

3,625

527

↓ 40

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,630

528

↓ 60

Jinzhong

3,630

528

↓ 70

Fuzhou

3,840

558

↑10

Jiangyin

3,820

555

↓ 40

Average price

3,730

542

↓ 40

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,700

538

↓ 40

 

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

$1 = RMB 6.88


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