China: Domestic Steel Price Update - 12 Mar'19

The price of general carbon billet in Tangshan, Changli and Qian’an was settled at RMB 3,430/MT. Today, the steel market tends to go stronger though transaction of billet is mediocre. Finished products are mainly in strong consolidation. The specific transactions are as follows:

Billet: Mill straight sale volume is ordinary and ex-warehouse tax inclusive spot is at RMB 3, 520-3,530/MT with transactions seen at low price. The overall transaction of finished products is acceptable, though some individuals are weak. It is expected that the billets will rise by RMB 10-20/MT in the afternoon.

Construction steels: Construction steel in Tangshan market is stable, and rebar HRB400 of big size is at RMB 3, 880/MT, small size at RMB 3, 880/MT, and coiled rebar at RMB 3, 940/MT.

HRC: HRC in Tangshan market rose by RMB 20/MT,and now 3.0mm coils is at RMB 3,770/MT, mainstream 5.5mm flattened at RMB 3,750/MT, and Q345 flattened at RMB 3,910/MT.

Medium plate: The Tangshan mid-plate market rebounded slightly by RMB 10/MT, and now the mainstream of 14-22mm is reported at RMB 3, 920/MT, and the low-alloy plate at RMB 4, 120/MT.