Chinese Domestic Steel Market Update, 29 Jul’19

Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian‘an was settled at RMB 3,650/MT, up RMB 10. Today, the steel market is weak, and the prices of finished products trend lower. Mill direct sales are insufficient. The ex-warehouse spot is around RMB 3,700/MT tax-included with a few transactions.

The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 303,100 MT, an increase of 8,800 MT from last Friday. The mainstream price of finished products is slightly reduced, and the overall transaction is plain. It is expected that the billet will drop by RMB 10 in the afternoon.

Construction steel: The price of construction steel in Tangshan market fell by RMB 30-70, to see the current market price of HRB 400 of big specification being at RMB 3,870/MT, small specification at RMB 4,030/MT, while coiled rebar at RMB 4,170/MT. Transactions are plain.

HRC: The price of flat sheet is down by RMB 10 and general carbon flat sheet of 1,500 mm by first-tier mill is at RMB 3,870/MT, second-tier mill at RMB 3,860/MT while Q 345 flat sheet at RMB 4,040/MT. Transactions are moderate.