China: Domestic Rebar Prices Stable Amid Limited Trades

The general carbon steel billet in Changli and Qian'an areas are continuing in the policy of locked ex-factory price till Feb 10th, which is RMB 3,430/MT cash including tax. Today the changes in the market are slowed down and finished products have sight decline in price. The specific transactions are as follows:

Billet: Mill direct sales are acceptable and offers differ as holiday is drawing close. A few transactions are made at RMB 3,530-3,540 ex-warehouses, tax-included. The overall transaction of finished products is weak.

Construction steel: Tangshan market is stable, and now the market price of rebar HRB400 of big size stands at RMB 3,720/MT small size at RMB 3,760/MT and coiled rebar at RMB3,780-with mediocre transactions.

Section steel: Section steel in Tangshan is stable, and the current mainstream price of I beams is RMB3,780/MT channel steel at RMB 3,780-3,800/MT and angle steel at RMB 3,780-3,800/MT. The market gradually enters the still state, and the overall transaction is significantly reduced. As of 10:30, the 16 steel mills being tracked totaled sales 3,000tons.

HRC: The market of HRC holds stable, and 3.0mm coils is at RMB 3,690/MT 5.5mm flattened is reported at RMB 3,670-3,680/MT while Q345 flattened at RMB 3,830/MT.

Medium plate: Mid-plate market in Tangshan saw some low-cost resources moving to upper end of price range. Now price of 14-22mm general board is reported at RMB 3,800/MT and low-alloy board at RMB 4,000. Most merchants are on holiday.