Chinese Domestic Steel Market Update, 16 Jul’19

Billet: Yesterday, the ex-factory price of general carbon billet in Tangshan, Changli and Qian’an was settled at RMB 3,640/MT. In the early morning, some steel mills in Qian’an area increased their price by RMB 10 to RMB 3,650/MT. After the uptick, the billet transactions are still smooth, and the prices of finished products trend upward. Mill direct sales are moderate. The ex-warehouse spot is offered at RMB 3,720/MT with a few transactions. The billet inventory at warehouses of Xiangyuzhengfeng and Haiyihongrun is 298,100 MT, down 14,200 MT. The overall transactions on finished steels are moderate, though some varieties are better. It is expected that price of some low costs billets may go up by RMB 10 in the afternoon

Construction steel: Mainstream construction steel in Tangshan tend to go up by RMB 30-50,to see the current market price of rebar HRB 400 of big specification stand at RMB 3,910/MT, small specification at RMB 4,140/MT, and coiled rebar at RMB 4,230/MT. Transactions are moderate.