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Blast furnace utilization among the 247 Chinese steelmakers Mysteel regularly canvasses climbed for a fourth straight week this week, rising by 1.1 percentage points on week to 81.5%, according to Mysteel's latest production survey published on May 25.
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The price of Q235 billet in Tangshan in North China's Hebei province reversed up by Yuan 50/tonne ($7.9/t) on week to Yuan 3,630/t EXW including the 16% VAT as of May 18. Market watchers said that despite the rise in supply, steelmakers and traders were keen to lift prices on the back of the declining inventories.
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Stocks of the five major carbon-steel products held by China's traders dropped further over May 10-16 but the pace of the on-week decrease was slower, Mysteel has found. Chinese buyers of rebar, wire rod, hot rolled and cold rolled coils and medium plate were anticipating further price declines and thus showed little interest in restocking.
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Blast furnace capacity utilization among the 247 Chinese steelmakers which Mysteel regularly surveys nationwide rose 1.28 percentage points on week to 80.4% as of May 17. The rise in furnace operations saw average production of molten iron among these producers grow by 35,600 tonnes/day to 2.25 million t/d, also as of May 17, according to Mysteel's latest survey published on May 18.
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The Tangshan Q235 billet price, a weathervane of China's steel market especially for long steel products, ended a five-week gain over the week of May 5-11 by reversing down Yuan 50/tonne ($7.9/t) on week to Yuan 3,580/t EXW including the 16% VAT as of May 11, according to Mysteel's latest weekly review.
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Blast furnace (BF) capacity utilization across 247 steel mills nationwide surveyed by Mysteel moved up further by 1.33 percentage points on week to 79.12%, Mysteel's latest survey published on May 11 indicated. Mills surveyed cited the further resumption of production while they could enjoy healthy profits.
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Tangshan Q235 billet price, the barometer of China's steel market, strengthened for the fifth week of April 28-May 4, up another Yuan 60/tonne ($9.5/t) on week to Yuan 3,630/t EXW and including the 16% VAT as of last Friday, according to Mysteel's latest market survey.
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The price of Q235 billet in North China's Tangshan, the weathervane of China's steel market, inched up Yuan 10/tonne ($1.6/t) on week to Yuan 3,570/t EXW including the 17% VAT as of April 27 despite the growing supply.
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China's blast furnace utilization rate reversed down by 0.85 percentage point on week to 77.4% after gains in the previous five weeks, Mysteel's latest production survey across 247 steelmakers nationwide showed on April 27.
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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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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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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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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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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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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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The Tangshan Q235 billet price slumped by Yuan 130/tonne ($21/t) on week to Yuan 3,600/t EXW and including the 17% VAT as of March 9, according to Mysteel's latest market survey.
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Tangshan Q235 billet benchmark, the barometer of Chinese steel market, jumped Yuan 140/tonne ($22/t) week on week to Yuan 3,730/t EXW including the 17% VAT on March 2, mainly because of the growing market optimism on the Tangshan government's announcement to launch another lengthy restriction on local blast furnaces on March 16-November 14, connecting seamlessly with the four-month winter curbing that ends on March 15, Mysteel noted from the market.
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The price of Q235 billet in Hebei province's Tangshan City - the barometer of China's steel market - inched down by Yuan 20/tonne ($3.2/t) since February 14 to Yuan 3,590/t including the 17% VAT as of February 23 in a quiet domestic market, according to Mysteel's latest weekly survey released last Friday.
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The price of Q235 billet in Hebei province's Tangshan - the barometer of China's steel market - inched down by Yuan 10/tonne ($1.6/t) on week to Yuan 3,610/t EXW and including the 17% VAT as of February 9, according to Mysteel's latest weekly survey. The dip in price was partly due to thin trading in a quiet market just ahead of China's one-week holiday break for New Year.
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Tangshan Q235 billet price, the barometer of China's steel market, increased another Yuan 20/tonne ($3.2/t) on week to Yuan 3,620/t EXW and including the 17% VAT as of February 2 on improvement in market sentiment, according to Mysteel's latest weekly survey.
