China: Domestic Billet Prices Up in Recent Deals

Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an was settled at RMB 3,530/MT up RMB 20/MT. This morning the price of some mills from Changli and Tangshan increased RMB 10/MT to RMB 3,540/MT and transaction is passable after the upswing. The price of finished steel tends to go up slightly. The specific transactions are as follows:

The stock of billet at warehouse of Xiangyu Zhengfeng and Haiyi Hongrun recorded 382,200 tons, down 13,300 tons. The Futures price is in fluctuating consolidation and spot market take on difference performance. After price upswing in finished steels, the transaction improved on low cost resources though overall trading is mediocre. It is expected that billet price may go up in the afternoon.

Construction steel: Construction steel on Tangshan market is stable, and the current market price of HRB400 of big specification is at RMB 4,020/MT, small specification at RMB 4,120/MT, and coiled rebar at RMB 4,200/MT. Transaction is somewhat weak.

HRC: Tangshan hot-rolled flat sheet runs stable. Price of 1,500mm wide sheet of general carbon is at RMB 3,900/MT by first-tier mills, and second-tier mills at RMB 3,890/MT, while flat Q345 material is at RMB 4,060/MT. Transaction is sound.

Medium plate: The price of medium plate is stable amid wait-and-see sentiments. The mainstream price of general carbon plate 14-22mm is at RMB 3,970/MT, and the low alloy plate is at RMB 4,170/MT. Transaction is plain.