Local Chinese semi-finished steel prices rise only in Tangshan

Tuesday, 03 September 2019 14:48:08 (GMT+3)   |   Shanghai
       

During the week ending September 3, Chinese domestic semi-finished steel prices have started to show some signs of improvement. However, the increase has been registered only in Tangshan, while prices in most other regions have edged down as demand has not improved and 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.

Product name

Specification (mm)

Category

City

Price
(RMB/mt)

Price (USD/mt)

Weekly Change 
(RMB)

Weekly Change
(USD/mt)

Billet

150 x 150

Q195-235

Jiangyin,Jiangsu

3,450

486.7

-50

-7

Jinzhong,Shanxi

3,340

471.2

-10

-1

Tangshan,Hebei

3,350

472.6

60

8

Fuzhou,Fujian

3,460

488.1

-40

-6

Average price

3,400

479.7

-10

-1

Billet

150 x 150

20MnSi

Jiangyin,Jiangsu

3,570

503.7

-50

-7

Jinzhong,Shanxi

3,440

485.3

-10

-1

Tangshan,Hebei

3,450

486.7

60

8

Fuzhou,Fujian

3,560

502.3

-40

-6

Average price

3,505

494.5

-10

-1

Slab

250 x 1,800 x 6,000

Q235

Tangshan,Hebei

3,430

483.9

30

4

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

During the given week, semi-finished steel prices in China moved down first but edged up later. Iron ore futures at Dalian Commodity Exchange jumped by RMB 42.5/mt ($6/mt) over the week and rebar at the Shanghai Future Exchange gained RMB 72/mt ($10/mt) during the same period, boosting market sentiment. Environmental protection measures provided a certain degree of support for the semi-finished steel market. However, market players are still mostly maintaining a wait-and-see stance. It is expected that semi-finished steel prices in the Chinese domestic market will indicate a slight rebound in the coming week. 

$1 = RMB 7.09


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