China's Tangshan Steel Market Observes Price Stability in Early Trading Sessions

Today the overall transaction of steel billets is stable and the mainstream price of finished products is stable. The specific transactions are as follows:

Billet: Mill straight shipment is plain. The warehoused spot price in Tangshan is at RMB 3,470-3,480/MT including tax with just a few transactions.

Construction steel: Some of the resources in Tangshan are called back. Now the price of rebar HRB400 of big size is at RMB 3,730/MT and small size at RMB 3,770 in the market. Transaction of coiled rebar is poor with the price standing at RMB 3,780,up RMB20.

Section steel: Prices of sections in Tangshan are stable in the morning, and some later on dropped by RMB10 later on. The current mainstream quotation for H steel is at 3,760-3,770, angle RMB3,770, channels RMB3,750-3,780, with certain categories seeing smooth transactions though overall it is weak. Up until 10:30 am, of the 16 steel mills being surveyed, the sales total is 13,700 tons, of which 5 sold 2,200 tons of H steels, 5 sold 5,400 tons of channels, and 6 sold 6,100 tons of angles.

HRC: Transaction in HRC of Tangshan is not good, and price later on cut off RMB20, with 3.0mm being at RMB 3,620/MT 5.5mm mainstream flattened at RMB 3,600, Q345 flattened at RMB3,760.

Medium plate: mid-plate market in Tangshan is stagnant in wait-and-see atmosphere. Now 14-22mm general plate is reported at RMB3,750, low alloy plate at RMB3,950.

The overall transaction of finished products is weak, and it is expected that the billet price will either stabilize or fall marginally in the afternoon.