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The benchmark price of Q235 150mm square billet in Tangshan, the barometer of China’s steel market, reversed up by Yuan 10/tonne ($1.5/t) over the weekend to Yuan 3,460/t EXW and including the 16% VAT as of March 24. This negated last Friday’s Yuan 10/t dip but the decline since March 19 remains at Yuan 80/t.
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Mysteel’s national average price for HRB400 20mm dia rebar strengthened for the fourth successive day though the day-on-day increment was only Yuan 1/tonne ($0.15/t) to Yuan 4,098/t as of March 21, as it has been finding support from the firm downstream demand, the continuing declines in finished steel inventories, and the continuing market optimism.
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The Tangshan Q235 150mm square billet price, a crucial indicator of China’s steel market sentiment, ebbed from the four-month high and the threshold of Yuan 3,500/tonne ($523/t), down Yuan 50/t on day to Yuan 3,490/t EXW including the 16% VAT as of March 20 and spot trading of long steel eased too.
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Mysteel’s national average HRB 400 20mm dia rebar price refreshed its three-month high on March 19, up another Yuan 20/tonne ($3/t) on day to Yuan 4,094/t, and the Tangshan Q235 billet price also hit its four-month high of Yuan 3,540/t EXW after another climb of Yuan 10/t on day, both including the 16% VAT, as the domestic steel market sentiment stayed positive.
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Billet stocks at re-rollers in Tangshan city, China’s top billet production base in North China’s Hebei province, reversed up by 32,000 tonnes or 7% on week to reach 486,000 tonnes as of March 14, Mysteel’s latest weekly survey published on March 15 showed.
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The Tangshan Q235 150mm square billet benchmark price, the weathervane of Chinese steel market, stayed on the uptrend throughout the weekend, up another Yuan 20/t ($3/t) in total to Yuan 3,520/t EXW and including the 16% VAT as of March 17, as a new round of emergency curbs has been imposed on the local mills’ sintering, coking and blast furnaces over March 16-20.
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Stocks of five major finished steel at both the Chinese traders and steel mills declined further during the week of March 7-13, and buying enthusiasm from both the traders and downstream consumers showed signs of improvement, market sources noted.
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The Tangshan Q235 150mm square billet price, a crucial indicator of China’s steel market sentiment, climbed up for the third consecutive day as of March 14, gaining another Yuan 20/tonne ($3/t) on day to Yuan 3,490/t EXW including the 16% VAT, as market sentiment improved amid the continuing declines in finished steel inventories and the anticipated better demand from end-users with the spring coming in China.
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China’s domestic steel prices continued to strengthen for the second day on March 13, with Mysteel’s national average HRB 400 20mm dia rebar benchmark price up to its three-month high of Yuan 4,051/tonne ($605/t) including 16% VAT, gaining another Yuan 15/t on day, while the spot steel trading volume fluctuated and signs of resistance against higher prices from end-users also emerged on Wednesday.
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Mysteel’s Tangshan Q235 150mm square billet benchmark, the barometer of the Chinese steel market, slipped by Yuan 30/tonne ($4.5/t) on week to Yuan 3,460/t EXW and including the 16% VAT as of March 8, as re-rollers’ buying of semis cooled down due to government-imposed restrictions on their output from March 6.
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Mysteel’s national average HRB 400 20mm dia rebar benchmark price reversed down by Yuan 13/tonne ($1.9/t) from last Friday to Yuan 4,019/t including the 16% VAT as of March 11, while the trading volume recovered on price declines.
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Mysteel’s Tangshan Q235 150mm square billet price, the barometer of Chinese steel market, lost a total of Yuan 30/tonne ($4.5/t) over March 8-10 to Yuan 3,430/t EXW including the 16% VAT on Sunday, and the trading of finished steel retreated after rather robust sales earlier last week.
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China’s spot steel trading recovered substantially after the price slides in the past three days with Mysteel’s daily monitor of national construction steel transaction among the 237 traders nationwide rebounding 30% or 47,000 tonnes from Wednesday to 205,000 tonnes as of March 7.
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Mysteel’s national average HRB 400 20mm dia rebar price, a strong indicator of China’s steel market sentiment, ebbed by Yuan 5/tonne ($0.7/t) on day to Yuan 4,043/t including the 16% VAT as of Tuesday, taking a pause after a jump on Monday.
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China’s domestic sales of heavy trucks in the 14- to 100-tonnes class reached 75,000 units in February, a seven-year second high for February business though last month’s total was 24% lower than sales in January, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on March 4.
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Mysteel’s Tangshan Q235 150mm square billet price continued to increase over February 25-March 1, rising by Yuan 60/tonne ($9/t) on week to Yuan 3,490/t EXW and including the 16% VAT as of March 1. Steadily recovering demand for finished steel nationwide promoted replenishment of the semis among re-rollers, industry sources explained Tuesday.
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Mysteel’s national average price of HRB400 20mm dia rebar reversed up last Friday after the decline over the previous three days, gaining Yuan 20/tonne ($3/t) on day to Yuan 4,009/t including the 16% VAT as of March 1, as spot sales improved substantially with the continuing recovery in actual demand from downstream industries.
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Chinese steel prices were largely stable on Wednesday, with Mysteel’s HRB 400 20mm dia rebar benchmark price lower again but only by a tiny Yuan 2/tonne ($0.3/t) on day at Yuan 3,990/t including the 16% VAT as of February 27.
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The Tangshan Q235 150mm square billet price, a crucial indicator of China’s steel market sentiment, increased for the fourth successive day by another Yuan 10/tonne ($1.5/t) on day to Yuan 3,460/t EXW and including the 16% VAT as of February 26, as the trading of section steel strengthened.
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Mysteel’s Tangshan Q235 150mm dia billet price, the bellwether of China’s steel market, picked up Yuan 40/tonne ($6/t) on week to Yuan 3,430/t EXW and including the 16% VAT as of February 22. The mild rise was thanks to the recovery in demand as more re-rollers in the city resumed operations following the Chinese New Year holidays and upped their billet consumption, market sources indicated.
