Chinese Domestic Steel Price Update - 28 Feb'19

Price of general carbon billet in Tangshan, Changli and Qian'an yesterday was settled at RMB 3, 470/MT ex-factory, up RMB 10/MT.

In the early morning, price of the Changli area took lead with a gain of RMB 10 to be reported at RMB 3, 480/MT. The billet transactions were plain, and the prices of finished products varied. The specific transactions are as follows:

Billet: Mill direct shipment is plain. The price of warehoused spot decreased from early trading RMB 3,540/MT to the mainstream RMB 3,520/MT or so with a few transactions. The overall transaction of finished products is weak, and it is expected that the billet will go up in the afternoon.

Construction steel: Tangshan market of construction steel saw mainstream price increased RMB 20/MT, and the current market price of rebar HRB400 of big size is at RMB 3,810/MT, small size at RMB 3,870/MT, while coiled rebar at RMB 3,910/MT.

Section steel: section steel in Tangshan market hangs in weak stability, and price dropped by RMB10-20/MT following struggling transaction. The current mainstream quotation for I beam is RMB 3,800-3,820/MT, the channel is RMB 3,800-3,810/MT, and the angle is RMB 3,860-3,880/MT. The market operates in dominant waiting sentiment with overall weak transaction.

HRC: HRC market experienced slight upswing of RMB 10/MT. Price of 3.0 mm coils is at RMB 3,770/MT, 5.5mm flattened mainstream at RMB 3,750/MT, and Q345 flattened at RMB 3,910/MT.

Medium plate: The Tangshan mid-plate market continues to hold steady. The current mainstream carbon plate of 14-22mm is at RMB 3,900/MT, and the low alloy plate at 4,100/MT.