China's Tangshan Steel Price Update - 24 Jan'19

Currently mills in Tangshan, Changli and Qian'an are implementing supply of general carbon steel billet with fixed ex-factory, tax inclusive price RMB 3,400/ton up until Feb 10th 2019. Today, the steel market is generally weak, with downtrend transactions in billets and slightly downward adjustment in finished steel price. The specific transactions are as follows:

Billet: Mill direct sale is acceptable. Price of warehoused spot is at 3,500/MT ex-warehouse inclusive of tax with some transactions in low-costs resources. The overall transaction on finished steel is a little bit weak.

Construction steel: Mainstream offers in Tangshan market are stable. Now rebar price of HRB400 of big size is at RMB 3,750/MT small size at RMB 3,750/MT and coiled rebar at RMB 3,780/MT. The transaction is flat.

Section steel: Channel steel in early market is largely stable, I beam experienced cumulative decline of RMB30 while discount on channels is bettered. Now the mainstream price of I beam is at RMB3,760-3,770, channel steel at RMB 3,750-3,780, and angle steel at RMB3,750-3,770. Some traders are offering lower prices in the hope of closing deals. The overall transaction has been more of weak. As of 10:30am,the total sales volume of 16 section steel mills is 9,000tons.

HRC: HRC in Tangshan market rose by RMB 20, and 3.0mm coils is offered at RMB 3,640/MT mainstream flattened 5.5mm is at RMB 3,620/MT and Q345 flattened is at RMB 3,760/MT.

Medium plate: Tangshan mid-plate market is holding steady in wait-and-see atmosphere, and now the mainstream general plate 14-22mm is at RMB3,780, and low-alloy plate at RMB 3,980/MT.