Yesterday the ex-factory price of general carbon billet in Tangshan,Changli and Qian’an areas was up RMB 10/MT to RMB 3,460/MT. Today’s steel market is weak with insufficient transaction on billet, and the mainstream prices of finished products slightly moved lower. The specific transactions are as follows:
Construction steels: Tangshan market is stable and the market price of rebar HRB400 of big specification is at RMB3,970, small specification at RMB4,040, while coiled rebar at RMB4,090. The trading performance is average.
Tube: mainstream scaffolding tube in Tangshan dropped by RMB 20/MT compared with yesterday, and now tax inclusive price is at RMB 3,940-4,000/MT, in acceptable trading atmosphere. The price of welded pipes is stable, and the mainstream is reported at RMB 3,950-3,990/MT.
HRC: Tangshan HRC market is holding steady and in stalemate, with 3.0mm coils offered at RMB3,850, mainstream 5.5mm flattened at RMB3,830-3,840,and Q345 flattened at RMB4,000. Market was in stalemate.
Medium plate: Tangshan mid-plate price is temporarily stable, with price of general carbon plate 14-22mm reported at RMB 3,980/MT, while low alloy plate is at RMB 4,180/MT. The trading performance was mediocre.
Billet: Mill direct sale is in regular quantity. The ex-warehouse spot price is around RMB 3,510/MT including tax, with some transactions. Billet inventory at warehouses Xiangyu Zhengfeng and Haiyi Hongrun totaled 730,300 tons, down 21,300 tons. The overall trading of finished products is weak, and it is expected that the billet price will remain steady or fall by RMB 10/MT in the afternoon.
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