Chinese Domestic Steel Market Update, 31 May'19

Billet: Yesterday the ex-factory price of general carbon billet in Tangshan, Changli and Qian'an was settled at RMB 3,560/MT, down RMB 40. Today, the steel market is in weak operation, with insufficient transactions on billets and the finished product prices inclines to weaken. Mill direct sale is weak. The price of ex-warehouse spot is offered at RMB 3,620/MT tax-inclusive with a few transactions. The billet inventory at warehouse of Xiangyu Zhengfeng and Haiyi Hongrun stands 205,100 MT, down 5,400 MT. The overall shipment of finished steels are inadequate, and it is expected that billet price may drop by RMB 20-30 in the afternoon

Construction steel: The mainstream prices of construction steel on Tangshan market are stable. The current market price of rebar HRB 400 of big specification is at RMB 3,960/MT, small specification at RMB 4,000/MT, while coiled rebar at RMB 4,070/MT up RMB 30. Transactions are weak.