During the week ending February 2, billet prices in the Chinese domestic market have indicated declines in northern China, though remaining stable in southern China, 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, in order to attract orders ahead of the Chinese New Year holiday (February 8-14), suppliers in northern China have lowered their prices for billet, though transaction volumes have not improved. Meanwhile, the semi-finished steel market in southern China has been quiet, while prices there have remained stable. In addition, finished steel futures prices in China have indicated slight declines, negatively affecting sentiment in the domestic semi-finished steel market. It is thought that semi-finished steel prices in the Chinese domestic market will likely move on a stable trend in the coming week.
| Product Name | Spec. | Category | City | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| Billet | 12 mm x 12 mm | Q195-Q235 | Tangshan | 1,600 | 243 | ↓70 |
| Jinzhong | 1,550 | 236 | ↓100 | |||
| Fuzhou | 1,650 | 251 | 0 | |||
| Jiangyin | 1,650 | 251 | 0 | |||
| Average price | 1,613 | 245 | ↓42 | |||
| Billet | 12 mm x 12 mm | 20 MnSi | Tangshan | 1,700 | 258 | ↓70 |
| Jinzhong | 1,650 | 251 | ↓100 | |||
| Fuzhou | 1,750 | 266 | 0 | |||
| Jiangyin | 1,750 | 266 | 0 | |||
| Average price | 1,713 | 260 | ↓42 | |||
| Slab | 250*1800*6000 | Q235 | Tangshan,Hebei | 1,650 | 251 | 0 |
The above prices include 17 percent VAT
$1 = RMB 6.58