Weak activity in Chinese domestic semi-finished steel market

During the week ending January 17, Chinese domestic semi-finished steel prices have indicated a rising trend, 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, the sharp rises in ferrous metal futures in China during the past few days have boosted confidence among players in the domestic semi-finished steel market, with a positive impact on spot prices. While market players are now mostly positive as regards the future prospects for the price trend and so are more willing to raise their inventory levels, demand from rolling steel plants is still slack and transaction activities are still at relatively low levels. It is expected that domestic semi-finished steel prices in China will move sideways in the coming week.

All prices are ex-warehouse and on actual weight basis and include 17 percent VAT.
 
$1 = RMB 6.86