During the week ending December 8, domestic prices of billet in China have mostly indicated a stable trend, though with declines seen in billet prices in Fujian Province and with declines also being observed in slab prices, while transaction activity in the overall 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, greater stability has been seen in semi-finished steel prices in China after the declines previously recorded, while overall demand has continued to be slack. Steelmakers have continued to cut their production activities, easing the pressure from the supply side in the semi-finished steel market and thereby contributing to the stability of prices. However, average iron ore prices in the international market have dropped below $40/mt, exerting a negative impact on the semi-finished steel market. It is believed that semi-finished steel prices in the Chinese domestic market will likely decrease in the coming week, though with just slight downticks anticipated.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Billet | 12 mm x 12 mm | Q195-Q235 | Tangshan | 1,500 | 234 | 0 |
| Jinzhong | 1,50 | 234 | 0 | |||
| Fuzhou | 1,530 | 238 | ↓30 | |||
| Jiangyin | 1,600 | 249 | 0 | |||
| Average price | 1,533 | 239 | ↓5 | |||
| Billet | 12 mm x 12 mm | 20 MnSi | Tangshan | 1,600 | 249 | 0 |
| Jinzhong | 1,600 | 249 | 0 | |||
| Fuzhou | 1,62 | 252 | ↓30 | |||
| Jiangyin | 1,700 | 265 | 0 | |||
| Average price | 1,630 | 254 | ↓8 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan,Hebei | 1,520 | 237 | ↓30 |
The above prices include 17 percent VAT
$1 = RMB 6.42