During the week ending September 17, Chinese domestic semi-finished steel prices have fluctuated within a limited range, 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.
|
Product name |
Specification (mm) |
Category |
City |
Price |
Price (USD/mt) |
Weekly Change |
Weekly Change |
|
Billet |
150 x 150 |
Q195-235 |
Jiangyin,Jiangsu |
3,550 |
501.9 |
0 |
+0.8 |
|
Jinzhong,Shanxi |
3,400 |
480.7 |
+10 |
+2.2 |
|||
|
Tangshan,Hebei |
3,380 |
477.9 |
-10 |
-0.7 |
|||
|
Fuzhou,Fujian |
3,490 |
493.4 |
0 |
+0.8 |
|||
|
Average price |
3,455 |
488.5 |
0 |
+0.8 |
|||
|
Billet |
150 x 150 |
20MnSi |
Jiangyin,Jiangsu |
3,670 |
518.9 |
0 |
+0.8 |
|
Jinzhong,Shanxi |
3,500 |
494.8 |
+10 |
+2.2 |
|||
|
Tangshan,Hebei |
3,480 |
492.0 |
-10 |
-0.6 |
|||
|
Fuzhou,Fujian |
3,590 |
507.6 |
0 |
+0.8 |
|||
|
Average price |
3,560 |
503.3 |
0 |
+0.8 |
|||
|
Slab |
250 x 1,800 x 6,000 |
Q235 |
Tangshan,Hebei |
3,500 |
494.8 |
0 |
+0.8 |
All prices are ex-warehouse and on actual weight basis and include 13 percent VAT.
In the first part of the given week, demand for semi-finished steel in China was quite good, resulting in medium levels of transaction activity and a decline in inventory level. However, following price rises, downstream users have started to be more cautious about concluding purchases of semi-finished steel. In the latter part of the given week, the expected stock building ahead of the Mid-Autumn Day holiday did not happen due to the approach of production restrictions after the holiday, while these restrictions will impact the market until early October because of the National Day holiday. However, the Chinese central bank’s cutting of the reserve ratio for financial institutions will bolster semi-finished steel prices to some extent. It is thought that semi-finished steel will likely see a slight downtrend in the coming week.
$1=RMB 7.073