During the week ending November 27, Chinese domestic semi-finished steel prices have seen sharp decreases, while transaction activity in the 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, ferrous metal futures prices in China have fallen sharply, negatively impacting domestic semi-finished steel prices. The capacity utilization rates of Chinese producers’ blast furnaces have declined, resulting in reduced supply of semi-finished steel to the spot market, though demand from downstream users has also been slacker, offsetting the decline in supply. Bearish sentiment prevails among players in the steel markets. It is expected that semi-finished steel prices in China will continue to soften in the coming week.
Product Name |
Spec. |
Category |
City |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
150 mm x 150 mm |
Q195-Q235 |
Tangshan |
3,120 |
449 |
↓460 |
|
Jinzhong |
3,120 |
449 |
↓410 |
|||
Fuzhou |
3,490 |
502 |
↓310 |
|||
Jiangyin |
3,400 |
489 |
↓360 |
|||
Average price |
3,283 |
472 |
↓385 |
|||
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,220 |
463 |
↓460 |
|
Jinzhong |
3,220 |
463 |
↓430 |
|||
Fuzhou |
3,590 |
517 |
↓310 |
|||
Jiangyin |
3,520 |
506 |
↓360 |
|||
Average price |
3,388 |
487 |
↓390 |
|||
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,300 |
475 |
↓330 |
All prices are ex-warehouse and on actual weight basis and include 16 percent VAT.
$1 = RMB 6.95
