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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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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 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 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 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.
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Mysteel’s price for Q235 150mm square billet in Tangshan, the pulse of China’s steel market, headed down over February 11-15, the first working week after the Chinese New Year holiday. Market sources on Monday said demand has not revived after the break as most local downstream re-rollers are yet to resume work.
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Blast furnace capacity utilization among 247 Chinese steel producers nationwide Mysteel monitors increased for a fourth consecutive week over January 25-31, rising by another 0.55 percentage point on week to average 77.79% as of January 31, according to the latest survey released on February 1.
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Billet stocks at Tangshan trading houses and ports swelled markedly over January 18-24, surging by 65,100 tonnes or 39.4% on week to reach 230,200 tonnes as local traders had been building stocks in preparation for fulfilling forward contracts, market sources told Mysteel on Monday.
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Mysteel’s Q235 150mm square Tangshan billet benchmark price, the barometer of China’s steel market, declined by Yuan 40/tonne ($5.9/t) on week to Yuan 3,380/t EXW and including the 16% VAT as of January 18. Market sources Monday said the local billet market had suffered from more downward pressure with the increase in supply of the semis.
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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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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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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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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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Billet inventories at 28 re-rollers Mysteel tracks in Hebei province’s Tangshan city declined by 23,200 tonnes on week to 103,700 tonnes as of December 13 to hit a new low since Mysteel launched the survey in September 2016. Local re-rollers were generally pessimistic about market trends, market sources observed Monday.
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The market for billet in North China’s Tangshan city, the pulse of the country’s steel market, rebounded over the week of December 3-7, with Mysteel’s Q235 150mm square Tangshan benchmark price reversing up by Yuan 230/tonne ($33.3/t) on week to Yuan 3,310/t EXW and including the 16% VAT as of December 7, as re-rollers and end users increased buying amid improved sentiment.
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Towards the end of November, billet producers in Tangshan, North China’s Hebei province, fell into lossmaking for the first time in the past two years due to the continuing slumps in billet price amid the overall softening in China’s domestic steel prices over the period, Mysteel’s latest weekly survey on the market shows.
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Mysteel’s Q235 billet benchmark price in North China’s Tangshan City hit a 16-month low of Yuan 3,330/tonne ($479.1/t) EXW and including the 16% VAT as of November 23, taking the total fall during the November 19-23 week to a large Yuan 310/t.
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The price of carbon steel billet in North China’s Tangshan fluctuated over November 12-16, with Mysteel’s daily price of Q235 150*150mm billet reaching Yuan 3,640/tonne ($528/t) EXW and including 16% VAT as of last Friday. The price had lost a total of Yuan 160/t on week to reach a 4-month low, Mysteel notes.
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The market for carbon steel billet in Tangshan, the key pointer to Chinese steel-market trends, weakened over the November 5-9 week, with Mysteel’s Q235 150*150mm billet benchmark price slumping Yuan 100/tonne ($14.4/t) on week to Yuan 3,800/t EXW and including the 16% VAT as of November 9.
