Chinese Domestic Steel Market Update, 18 Jun'19

Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an areas was settled at RMB 3,410/MT, down RMB 20. In the early morning, the Changi area led a gain of RMB 10 to report at RMB 3,420/MT. The billet transactions were general, and the prices of finished products are in disarray. The billet inventory at warehouses of Xiangyu Zhengfeng and Haiyi Hongrun is 290,100 MT, an increase of 17,000 MT. The overall trading of finished products is generally moderate, and the price of billets is expected to rise in the afternoon.

Construction steel: Tangshan construction steel market dropped by RMB 20 compared with yesterday. The current market price for rebar HRB 400 of big specification is at RMB 3,710/MT, small specification at RMB 3,810/MT and coiled rebar at RMB 3,970/MT. Transactions are more of weak.