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The price of Q235 billet in Hebei province's Tangshan, the barometer of China's steel market, jumped another Yuan 80/tonne ($12.7/t) on week to Yuan 3,560/t EXW and including the 17% VAT as of April 20, according to Mysteel's latest weekly survey. Industry players cited the continuing improvement in steel demand and firm market sentiment.
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China's domestic steel prices both for long and flat continued with the upward momentum on April 19 mainly due to further declines of inventories for all the major steel products.
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The price of Q235 billet in Tangshan, the most resilient among all the traded steel products in China, increased by Yuan 30/tonne ($4.8/t) day on day to Yuan 3,490/t EXW and including the 17% VAT on April 17, mainly due to better demand for billet and the significant rise in sales of finished steel.
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Mysteel's national average benchmark price of HRB 400 20mm rebar dipped by a small Yuan 6/tonne ($1/t) on day to Yuan 3,899/t including the 17% VAT as of April 16, mainly due to poor sales and the negative sentiment held by traders.
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The price of Q235 billet in North China's Tangshan, the weathervane of China's steel market, jumped by Yuan 90/tonne ($14/t) on week to Yuan 3,480/t EXW including the 17% VAT as of April 13 on the strong support of better sales as real end-user demand recovered further.
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Mysteel's Tangshan Q235 billet benchmark, the weathervane of China's steel market, jumped another Yuan 50/tonne ($7.9/t) day on day to Yuan 3,460/t EXW including the 17% VAT on April 10, as suppliers, with low stocks, are keen to lift offering prices on noting the renewed interest of buying among traders and re-rollers on recent domestic steel price recovery.
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Mysteel's national average HRB 400 20mm rebar benchmark price decreased for the fourth successive day, down Yuan 9/tonne ($1.4/t) on day to Yuan 3,856/t including the 17% VAT as of April 9, though the pace slowed down on revival in demand and inventory declines as a result.
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The price of Q235 billet in North China's Tangshan, the weathervane of China's steel market, rebounded by Yuan 50/tonne ($7.9/t) since March 30 to reach Yuan 3,390/t EXW including the 17% VAT as of April 8, owing to better sales among end users and traders, according to Mysteel's latest weekly survey. April 8 was a working day in China as Friday was a public holiday.
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China's Tangshan billet price, a barometer of the country's steel market, softened again after a temporary rebound during China's Qingming holiday on April 5-7, down Yuan 20/tonne ($3.2/t) on day to Yuan 3,390/t EXW and including 17% VAT for the Q235 grade on April 8, as the market was still pressured with high stocks at the traders.
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China's rebar price reversed down after a sharp increase on April 2, with Mysteel daily average price of national HRB 400 20mm rebar edging down Yuan 5/tonne ($0.8/t) on day to Yuan 3,911/t including 17% VAT on April 3.
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Rebar prices in most parts of China rose noticeably on April 2 mainly in reaction to the soaring Tangshan billet price on March 31, and the national average HRB 400 20mm rebar benchmark price surged Yuan 109/tonne ($17.4/t) on day to Yuan 3,916/t including the 17% VAT on Monday.
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Tangshan Q235 billet benchmark price continued to slide down but at a slower pace last week amid the operation halts at the local re-rollers, down Yuan 20/tonne ($3.2/t) week on week to Yuan 3,350/t EXW including the 17% VAT by March 30, according to Mysteel's weekly survey.
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Mysteel average price of HRB 400 20mm rebar in Beijing edged up by another Yuan 20/tonne ($3.2/t) on day Wednesday to Yuan 3,700/tonne.
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The six-day slide in Chinese rebar prices ended on Tuesday with Mysteel's national average HRB 400 20mm rebar benchmark price finally rising, edging up Yuan 3/tonne ($0.5/t) on day to reach Yuan 3,764/t including the 17% VAT, according to market watchers.
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Mysteel's national average HRB 400 20mm rebar benchmark price dropped for a sixth successive day on Monday, slumping by Yuan 106/tonne ($17/t) on day to Yuan 3,761/t including the 17% VAT on March 26. Industry insiders attributed the fall to negative market sentiment, with demand still lacklustre at a time when steel output remains stable.
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Prices of Q235 billet in North China's Tangshan, the weathervane of the Chinese steel market, slumped Yuan 210/tonne ($33.3/t) week on week to Yuan 3,370/t EXW including the 17% VAT on March 23, touching an 8-month low since July 2017, according to Mysteel's latest market survey published on Friday. Traders are growing increasingly pessimistic about the domestic steel market on concerns of increasing supply amid thin demand.
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Mysteel national average price for HRB 400 20mm rebar continued to dip for the third day, down another Yuan 10/tonne ($1.6/t) day on day to Yuan 3,988/t including 17% VAT on March 21 as the downstream demand still saw few signs of revival and rebar futures price failed to rebound either.
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Mysteel's national average benchmark price for HRB 400 20mm rebar dropped another Yuan 39/tonne ($6.2/t) day on day to Yuan 3,998/t including 17% on March 20, as market demand cooled further and sentiment among traders grew bearish.
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The price of Q235 billet in Tangshan slipped by Yuan 20/tonne ($3.2/t) on week to Yuan 3,580/t EXW and including the 17% VAT as of March 16, according to Mysteel's latest survey. The softer prices reflected rising concerns about loosening supply amid thin demand as some local integrated steel mills resumed normal operations after March 15.
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Mysteel daily tracker on national average price of HRB400 20mm rebar reversed from a two-day decline, up Yuan 12/tonne ($1.9/t) on day to Yuan 4,078/t including 17% VAT on March 15.
