Chinese Domestic Steel Price - 06 Mar'19 Update

The price of general carbon billet in Tangshan,Changli and Qian'an decreased RMB 10 to RMB 3,500 yesterday. Today, the steel market is gathering momentum and finished steel price is getting higher, though billet sales are just plain. Yesterday Chinese govt announced lowering value-added tax (VAT) from 16% to 13% for the manufacturing industry. The specific transactions are as follows:

Billet: Mill straight shipment was general and warehoused spot is at RMB 3,550-3,560 ex-warehouses ,tax-included, with some transactions at low-cost resources. The inventory of billet warehouses of Xiangyu Zhengfeng and Haiyi Hongrun in Tangshan totals 684,500 tons, down 4,4 00 tons. The overall transaction of finished products is active, and it is expected that the billet will remain stable in the afternoon.

Construction Steel: the market is mainly stable, and price of rebar HRB400 of big size mostly offered at RMB3,900,small size at RMB3,920 and coiled rebar at RMB3,960 in the market.

HRC: Tangshan HRC Market is holding steady, with 3.0mm coils at RMB 3,810, mainstream of 5.5mm flattened at RMB 3,790,while Q345 flattened at RMB3,950.

Medium plate: Some low-priced mid-plate in the market rose by RMB 10, and now the mainstream of 14-22mm is at RMB3,940, and the low alloy plate is at RMB4,140.