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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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Chinese steel traders canvassed by Mysteel on Wednesday generally agreed that steel demand this quarter is slightly improved compared with January-March last year and expect that demand will become even stronger next quarter.
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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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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 300-series stainless steel prices shot up to an over four-month high on Wednesday amid the renewed buying enthusiasm from the end-users while supply constraints from steelmakers, Mysteel noted.
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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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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 national average HRB 400 20mm dia rebar benchmark reversed up on February 21 after having declined for the previous five working days though just gaining Yuan 4/t ($0.6/t) on day to Yuan 3,977/t including the 16% VAT as of Thursday and sales posted substantial improvement on the day too.
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Mysteel’s national average price for HRB400 20mm dia rebar declined for the fifth successive day by another Yuan 20/tonne ($3/t) on day to Yuan 3,973/t including the 16% VAT as of February 20, as demand revival after the Chinese New Year break has been hindered by rainy days in China.
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China’s production of crude stainless steel in January decreased by 7% on month to 1.95 million tonnes, as poor demand around the Chinese New Year holiday break led stainless mills to opt to shut for maintenance and overhauls, according to the findings of Mysteel’s latest monthly survey among 21 domestic stainless makers published on February 19. The 21 mills account for over 90% of China’s total stainless output.
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Taishan Steel Group Co, the only sizeable stainless producer in East China’s Shandong province has just started constructing an 800,000 tonnes/year stainless cold rolling mill adjacent to its existing stainless hot-rolling mill in Laiwu district, Jinan city of Shandong, a company official confirmed on Thursday.
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China’s Tangshan billet price gained Yuan 80/t from February 3 to Yuan 3,510/t ($520.6/t) on the morning of February 11, the first working day after the Chinese New Year holiday, though the finished steel prices remained steady during the Chinese New Year holiday on February 4-8. Mysteel’s latest assessment of the national average HRB 400 20mm dia rebar benchmark price as of February 3 showed that the price had stayed at Yuan 3,952/tonne including 16% VAT for seven consecutive days.
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China’s production of crude stainless steel totalled 26.7 million tonnes in 2018, higher by 933,000 tonnes or 3.6% on year, according to the latest figures released by Stainless Steel Council of China Special Steel Enterprises Association (CSSC) on January 25. But the growth in production was dwarfed by the even faster rise in the county’s apparent stainless consumption, which jumped by 7% or 1.39 million tonnes on year to 21.3 million tonnes, CSSC estimated.
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Chinese steel prices were largely stable on Monday. Mysteel’s national average HRB 400 20mm dia rebar price rose by just Yuan 6/tonne ($0.9/t) on day to Yuan 3,950/t including the 16% VAT as of January 28. Mysteel’s Q235 150mm square billet benchmark remained unchanged, reflecting the fact that major billet suppliers have locked-in prices with buyers at Yuan 3,430/tonne ($508.9/t) EXW and including the VAT since January 25. The lock-in period will last until the Chinese New Year holiday ends on February 10.
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The price of Q235 150mm square billet in North China’s Tangshan city, a crucial pointer of country’s steel-market sentiment, has hovered at Yuan 3,430/tonne ($508.5/t) EXW and including the 16% VAT since January 25. Billet suppliers in Tangshan had earlier opted to lock their offering prices for billet till February 10 at Yuan 3,400/t, but on Friday, they decided to raise the lock prices by Yuan 30/t.
