During the week ending March 28, Chinese domestic semi-finished steel prices have indicated significant declines, while transaction activity in the market has been slacker than in the previous week and is now at low-to-medium levels. Average prices of steel billet and slab in the local Chinese market are presented in the following table.
During the given week, the significant decline trend of ferrous metal futures prices in China has exerted a negative impact on steel prices in the domestic spot market. Market players are now mostly maintaining a wait-and-see stance at present, while rolling mills lack confidence in the future prospects for finished steel prices and so they have been unwilling to conclude purchases of semi-finished steel, resulting in slack activity in the market. It is thought that semi-finished steel prices in the Chinese domestic market will likely move down further 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 |
3,090 |
449 |
↓260 |
|
Jinzhong |
3,030 |
440 |
↓230 |
|||
Fuzhou |
3,200 |
465 |
↓230 |
|||
Jiangyin |
3,270 |
475 |
↓280 |
|||
Average price |
3,148 |
457 |
↓250 |
|||
150 mm x 150 mm |
20 MnSi |
Tangshan |
3,190 |
464 |
↓230 |
|
Jinzhong |
3,120 |
453 |
↓260 |
|||
Fuzhou |
3,300 |
480 |
↓230 |
|||
Jiangyin |
3,410 |
496 |
↓220 |
|||
Average price |
3,255 |
473 |
↓235 |
|||
250*1800*6000 |
Q235 |
Tangshan, Hebei |
3,120 |
453 |
↓230 |
All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
$1 = RMB 6.88
