China: Domestic Steel Market Update - 17 Apr’19
Yesterday, the ex-factory price of general carbon billet in Tangshan,Changli and Qian’an was settled at RMB 3,560/MT down RMB 20/MT. Today, the billet transaction is tepid, and the price of most finished products is running low. The specific transactions are as follows:
Construction steel: The mainstream price of building materials market is stable. The current market price of HRB400 of big specification is at RMB 4,050/MT, small specification at RMB 4,140/MT while coiled rebar at RMB 4,250/MT. Transaction is weak.
HRC: Hot-rolled flattened sheet lowered by RMB 20/MT, and 1500mm wide flattened sheet by first-tier steel mill is at RMB 3,940/MT, second-tier steel mill at RMB 3,930/MT, and Q345 flattened at RMB 4,100/MT. Transaction is few.
Medium plate: The price of medium plate is slightly down by RMB 10/MT, with the mainstream of the general carbon plate 14-22-22mm at RMB 4,010/MT, and the low alloy plate at RMB 4,210/MT. Transaction is weak.
Billet: Mill direct sale was in moderate quantity. Ex-warehouse spot is at RMB 3,620-3,630/MT tax-included with few transactions at low prices. The billet inventory at warehouses Xiangyu Zhengfeng and Haiyi Hongrun totaled 470,200 tons, down 20,100 tons. With the Futures steel fluctuating at low positions, spot traders are in a wait-and-see state and the transaction in finished products is not optimistic even after price decline.
source: SteelMint
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