Chinese Domestic Steel Market Update, 04 Jun'19

Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an was settled at RMB 3,530/MT, down RMB 20. In the early morning, the Changli area led the gain of RMB 10 to report to RMB 3,540/MT, with weakened transaction on billet and the finished product prices tend to go downward. Mill direct sale is passable. The ex-warehouse spot is offered at RMB 3,590/MT, with some transactions. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 192,400 MT, down 2,200 MT. The overall transaction of finished products is insufficient, and the billet is expected to remain stable in the afternoon.

Construction steel: The market price fell by RMB 20-30, to see the rebar HRB 400 of big specification stand at RMB 3,910/MT while small specification at RMB 4,000/MT, while coiled rebar at RMB 4,060/MT. Transactions are plain.