Local Chinese semi-finished steel prices decline

Tuesday, 04 June 2019 17:17:42 (GMT+3)   |   Shanghai
       

During the week ending June 4, Chinese domestic semi-finished steel prices have moved on an overall downtrend, while transaction activity in the market has been at low levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.

During the given week, finished steel prices in the Chinese domestic market have edged down, exerting a negative impact on semi-finished steel prices as rolling mills have been unwilling to produce and lower the purchasing activities for semi-finished steel. Currently, the hot weather has hit China, which will slacken the demand for semi-finished steel. Meanwhile, the iron ore prices have edged down, negatively affecting the semi-finished steel prices. It is expected that semi-finished steel prices in the Chinese market will edge down 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

3,540

512

↓80

Jinzhong

3,560

515

↓60

Fuzhou

3,700

535

↓70

Jiangyin

3,620

524

↓120

Average price

3,605

522

↓83

Billet

150 mm x 150 mm

20 MnSi

Tangshan

3,640

527

↓80

Jinzhong

3,660

530

↓60

Fuzhou

3,800

550

↓70

Jiangyin

3,740

541

↓120

Average price

3,710

537

↓83

Slab

250*1800*6000

Q235

Tangshan, Hebei

3,550

514

↓150

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

$1 = RMB 6.91


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