China: Domestic Steel Prices Observe Less Volatility

Presently, the general carbon steel billet in Changli and Qian'an area is implementing a locked price policy of RMB 3,430/MT ex-factory including tax, till Feb 10th,2019. Today the fluctuation in market is minimal and mainstream finished steel price is stable ahead of Chinese holidays. The specific transactions are as follows:

Billet: Mill direct shipment is acceptable and ex-warehouse spot offered at RMB 3,550/MT including tax with some transactions. The overall transaction of finished products is mediocre.

Construction steel: The mainstream markets are stable in Tangshan, and the rebar HRB400 of big size is at RMB 3,720, small size at RMB 3,760, while coiled rebar at RMB3,780, with plain transactions.

Section steel: Sections in Tangshan is stable and now the mainstream price of I beam is at RMB 3,780/MT the channel at RMB 3,780-3,800/MT the angle at RMB 3,780-3,800, and the market is gradually coming to a stop with apparent shrank transactions. As of 10:30, of the 16 steel mills being tracked, total sales is 4,300 tons.

HRC: The market is stable, with some merchants already on holiday, and 3.0mm coils at RMB 3,700, 5.5mm mainstream flattened at RMB 3,680, while Q345 flattened at RMB 3,840.

Medium plate: Plate market is flat. Some merchants have been on holiday, with sparse transactions. Now the mainstream general plate 14-22mm is at RMB 3,790, and the low alloy plate at RMB3,990.