During the week ending December 11, Chinese domestic semi-finished steel prices first increased but decreased later in the week, 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, domestic semi-finished steel prices increased first due to the positive impact of the meeting in Buenos Aires between Chinese President Xi Jinping and his US counterpart Donald Trump, though prices edged down later due to the downtrend seen in ferrous metal futures prices, with average domestic prices of semi-finished steel now lower compared to one week ago. However, demand for semi-finished steel in China has been good as steelmakers have been eager to conclude purchases, and this will continue to support semi-finished steel prices. It is expected that semi-finished steel prices in the Chinese domestic 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 |
3,280 |
475 |
↓50 |
|
Jinzhong |
3,280 |
475 |
↓50 |
|||
|
Fuzhou |
3,500 |
507 |
↓10 |
|||
|
Jiangyin |
3,630 |
526 |
↑20 |
|||
|
Average price |
3,422 |
496 |
↓23 |
|||
|
Billet |
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,380 |
490 |
↓50 |
|
Jinzhong |
3,380 |
490 |
↓50 |
|||
|
Fuzhou |
3,600 |
522 |
↓10 |
|||
|
Jiangyin |
3,750 |
543 |
↑20 |
|||
|
Average price |
3,527 |
511 |
↓23 |
|||
|
Slab |
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,400 |
493 |
0 |
All prices are ex-warehouse and on actual weight basis and include 16 percent VAT.
$1 = RMB 6.90