Positive factors prevail in Chinese domestic semi-finished steel market

During the week ending April 5, semi-finished steel prices in the Chinese domestic market have continued to increase, while transaction activity in the overall market has improved compared to the previous week, though it remains 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, domestic steelmakers have reduced their semi-finished steel supply volumes for the market, exerting a positive impact on semi-finished steel prices. Meanwhile, ferrous metal futures prices have indicated an overall rising trend, providing support for domestic semi-finished steel prices. It is thought that semi-finished steel prices will likely rise slightly or move sideways in the coming week.

The above prices include 17 percent VAT
 
$1 = RMB 6.48