Chinese Domestic Steel Market Update, 11 Jul'19

Billet: Yesterday the ex-factory price of general carbon billet in Tangshan, Changli and Qian was settled at RMB 3,630/MT down RMB 20. In the early morning today, the Changli area led the gains of RMB 10 to report at RMB 3,640/MT. The billet transactions were general, and the prices of finished product are in disarray. Mill direct sales are passable. The ex-warehouse spot is offered at RMB 3,710/MT. The billet inventory at warehouses of Xiangyuzhengfeng and Haiyihongrun is 375,600 MT, down 14,000 MT. The overall transaction is somewhat weak.

HRC: Price of hot rolled flat sheet in Tangshan dropped by RMB 10 and 1500 mm wide general carbon flat steel by first-tier steel mill is at RMB 3,850/MT, second-tier steel mill at RMB 3,840/MT, while Q 345 flat sheet is at RMB 4,020/MT. Transactions are sound.