UTC+8 ( BJT)

DAILY: China steel prices up but sales thin over holiday

ABSTRACT

Chinese steel producers and traders attempted to hike their steel prices during the Labour Day holiday over April 30-May 4, though sales were thin over the holiday. But the relaxation of COVID-related logistics controls and more stimuli measures unveiled by Chinese government to help boost real estate and infrastructure sectors have been building up the market optimism, according to market sources.
As of May 4, the Q235 150mm square billet price in Tangshan, a bellwether of China's steel market dynamics, increased Yuan 30/tonne ($4.5/t) from the pre-holiday period to Yuan 4,790/t EXW and including the 13% VAT, according to Mysteel's assessment.   For finished steel, traders in major markets including East China's Shanghai

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