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Mysteel’s national HRB 400 20mm dia rebar benchmark slipped for the sixth consecutive working days on Wednesday, down another Yuan 5/tonne ($0.7/t) on day to Yuan 3,911/t including the 16% VAT as of January 16 as the continuing declines in spot sales took a toll.
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Mysteel’s Tangshan Q235 150mm square billet price jumped by Yuan 120/tonne ($17.8/t) on week to Yuan 3,420/t EXW and including 16% VAT as of January 11, as demand from local re-rollers picked up significantly, industry watchers said. Tangshan in North China’s Hebei province is China’s biggest billet producing city.
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The Tangshan Q235 150mm square billet price, a crucial indicator of China’s steel market sentiment, had been rangebound in the past few days, and it reversed up again by Yuan 30/tonne ($4.4/t) from the weekend to Yuan 3,410/t EXW including the 16% VAT as of January 14, mainly because of the improvement in demand from re-rollers in Tangshan of North China’s Hebei province and its surrounding areas.
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Price trends of semi-finished and finished steel in China’s domestic market diverged further on Thursday, with Mysteel’s Tangshan Q235 150mm billet up for a sixth consecutive working day, gaining another Yuan 20/tonne ($2.9/t) on day to Yuan 3,420/t EXW. Conversely, Mysteel’s national HRB 400 20mm dia rebar lost another Yuan 4/t on day to Yuan 3,934/t as of January 10. Both prices include the 16% VAT.
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The price of Q235 150mm square billet in Tangshan, the bellwether of China’s steel market, gained another Yuan 20/tonne ($2.9/t) on day on January 9 to reach Yuan 3,400/t EXW and including the 16% VAT, the fifth straight on-day rise. However, trading activity for the semi was not as strong as its price, given re-rollers’ cooling enthusiasm for procuring.
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The bellwether of China’s steel market, the Tangshan Q235 150mm square billet price had stayed on a uptrend for the past few days, having gained another Yuan 20/tonne ($2.9/t) on day to Yuan 3,380/t EXW including the 16% VAT as of January 8, as the market have been staying positive amid the series of promising changes including the reserve ratio cuts and the latest meeting between China and the United States that may ease the trade friction between the world’s top two economic bodies.
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The price gap between billets from makers in Tangshan city in North China’s Hebei province, and those from mills in East China’s Jiangsu province has narrowed rapidly since late December after production bans in both areas were lifted, Mysteel has found.
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Billet stocks at 33 Tangshan steel re-rollers surged by 35.6% or 66,000 tonnes on week to 251,600 tonnes as of January 3, as some re-rollers started to replenish their stocks of semis following the lifting of a ban on production in place for nearly half a month, Mysteel’s latest survey showed on January 4. Tangshan in North China’s Hebei province is China’s top steelmaking city.
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The Tangshan Q235 150mm square billet price, the weathervane of China’s steel market, rebounded by Yuan 60/tonne ($8.7/t) over the weekend to Yuan 3,360/t EXW including the 16% VAT on January 6, as market sentiment improved on the latest announcement by the People’s Bank of China on January 4 to cut commercial banks’ cash reserve ratios by 1 percentage point, with 0.5 percentage point to be reduced on January 15 and the other 0.5 percentage point on January 25 to enrich cash flow in the domestic market amid a possible slow-down in the Chinese economic growth.
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Rebar trading in China’s steel market showed signs of improvement on Thursday, though the transaction price still stayed on the downtrend amid the overall sluggish demand, with Mysteel’s national average price for HRB400 20mm dia rebar having slipped for the fourth day, down another Yuan 7/tonne ($1/t) on day to Yuan 3,933/t including the 16% VAT.
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Supply tightness in both billet and finished steel in Tangshan, North China’s Hebei province until the yearend of 2018 had failed to lend much support to the local billet price, with the Tangshan Q235 billet price still down Yuan 140/tonne ($20.4/t) on week to Yuan 3,300/t EXW and including the 16% VAT as of December 28 2018.
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The bellwether of China’s steel market, the Tangshan Q235 150mm square billet price had been rangebound in the past few days and it reversed down again by Yuan 40/tonne ($5.8/t) from December 29, the last working day of 2018, to Yuan 3,260/t EXW including the 16% VAT as of January 2 2019, the first working day of 2019 after China’s short New Year Holiday over December 31-Janaury 1.
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The bellwether of China’s steel market, the Tangshan Q235 150mm square billet price moved up further for the second straight day, gaining another Yuan 20/tonne ($2.9/t) day on day to Yuan 3,380/t EXW including the 16% VAT as of December 27.
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China's long steel market remained subdued on December 25, with Mysteel's national average price of HRB 400 20mm dia rebar down another Yuan 30/tonne ($4.3/t) on day to Yuan 4,002/t including the 16% VAT, as demand in South and East China softened with the onset of lower temperatures and rainy days.
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Mysteel’s benchmark price for Q235 150mm square in Tangshan, the bellwether of China’s steel market, strengthened by a further Yuan 90/tonne ($13/t) on week to reach Yuan 3,440/t as of December 21, as stricter environmental restrictions triggered supply concerns, Mysteel learnt on Tuesday.
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Mysteel’s national HRB 400 20mm dia rebar benchmark price reversed down by Yuan 18/tonne ($2.6/t) on Monday from last Friday to reach Yuan 4,032/t including the 16% VAT. Some traders lowered their prices slightly after the rather slack sales over the weekend but their sentiment remained calm, market sources said.
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Mysteel’s national average price for HRB400 20mm dia rebar increased for the second consecutive day, up another Yuan 22/tonne ($3.2/t) on day to Yuan 4,050/t including the 16% VAT as of December 21, which was mainly attributed to the growing concern on potential supplies decrease with the frequent measures by the Tangshan government in North China’s Hebei province recently on battling against air pollution.
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The Tangshan Q235 150mm square billet price, the most resilient among all the traded steel products, increased again on December 20, up Yuan 30/tonne ($4.4/t) on day to Yuan 3,390/t EXW and including the 16% VAT mainly as steel mills and traders successfully capitalized on the growing concern of supply with the latest order by the city government to halt the operations of the sintering facilities over December 20-31 for now because of the poor air quality forecast.
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Chinese steel prices reversed down on Tuesday, with the HRB 400 20mm dia rebar benchmark price as assessed by Mysteel losing Yuan 8/tonne ($1.2/t) on day to reach Yuan 4,031/t including the 16% VAT after registering gains for the past three working days.
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Amid the recent frequent restrictions on the steel mills in the city, North China’s Hebei province, Tangshan billet price, the bellwether of Chinese steel market, has been on an uptrend since December 12 with the 150mm square billet price up another Yuan 10/tonne ($1.5/t) on day to Yuan 3,360/t EXW and including the 16% VAT as of December 17.
