During the week ending August 4, domestic semi-finished steel prices in China have mostly indicated a rising trend, though billet prices in Jiangsu Province have remained unchanged, while transaction activity in the overall market has been better than in the previous week though remaining 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, the rebound in finished steel prices in China has exerted a positive impact on domestic semi-finished steel prices. Meanwhile, iron ore prices have also rebounded a little, likewise providing support for semi-finished steel prices. The recovery in rebar and wire rod prices have stimulated some semi-finished steel producers to resume production. Currently, bullish sentiment prevails in the finished steel and semi-finished steel markets. It is expected that semi-finished steel prices in the Chinese domestic market will continue their rising trend in the coming week.
| Product name | Specification (mm) | Category | City | Price | Price (US$/mt) | Weekly change |
| (RMB/mt) | (RMB/mt) | |||||
| Billet | 150 x 150 | Q195-235 | Jiangyin,Jiangsu | 1,900 | 306 | ↑80 |
| Jinzhong,Shanxi | 1,920 | 309 | 0 | |||
| Tangshan,Hebei | 1,850 | 298 | ↑20 | |||
| Fuzhou,Fujian | 1,850 | 298 | ↓90 | |||
| Average price | 1,880 | 303 | ↑47 | |||
| Billet | 150 x 150 | 20MnSi | Jiangyin,Jiangsu | 2,020 | 325 | ↑70 |
| Jinzhong,Shanxi | 1,970 | 317 | ↑70 | |||
| Tangshan,Hebei | 1,960 | 316 | ↑30 | |||
| Fuzhou,Fujian | 2,020 | 325 | 0 | |||
| Average price | 1,993 | 321 | ↑43 | |||
| Slab | 250 x 1,800 x 6,000 | Q235 | Tangshan,Hebei | 1,860 | 300 | ↑40 |
The prices are on actual weight basis, 17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21