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Billet stocks in North China’s Tangshan thinned rapidly during the week of September 8-14, mainly because steel re-rollers stepped up procurement of the semis as market prices had retreated while orders from users were picking up, according to market sources on Monday.
Over September 7-13, billet inventories at two ports in
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China’s Tangshan billet price reversed up late in the week of September 1-7 after the city government reiterated in a September 5 announcement that its battle against air pollution will continue this month, Mysteel’s weekly survey showed on September 7 and market sources confirmed on Monday.
“The issue of the steel
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Sentiment in the billet market in North China’s Tangshan city, the barometer of the country’s steel market, improved slightly on Monday with information that the government was drafting new restrictions at Tangshan steel mills for September, market sources told Mysteel on Monday afternoon.
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The price of Q235 billet in North China’s Tangshan, the barometer of the country’s steel market, inched up Yuan 10/tonne ($1.5/t) on week to Yuan 4,050/t EXW and including the 16% VAT as of last Friday, before gaining another Yuan 30/t from August 24 to Yuan 4,080/t on August 26. Market insiders Monday said the semi continues to enjoy consistent price support from the tightness of supply.
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The price of carbon steel billet in North China’s Tangshan city jumped to an 82-month high on August 17 as the onerous output restrictions being imposed on steelmakers to reduce smog levels over the city have tightened supplies of the semis, market sources explained.
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Stocks of the five major carbon-steel products held by China’s traders increased over August 9-15, Mysteel has found. Chinese buyers of rebar, wire rod, hot-rolled and cold-rolled coils and medium plate tempered their procurement amid the rise in prices.
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Billet prices in North China’s Tangshan city, a key indicator of market price trends, are enjoying an unusually strong summer, thanks to keen buying from re-rollers, now back in business after observing government-mandated production restrictions.
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The price of Tangshan billet Q235, the weathervane of China’s long steel market, surpassed its intra-year high to Yuan 3,850/tonne ($566/t) on August 3, up Yuan 60/t on week, on the back of tight supply concerns with the steelmakers’ growing upbeat market sentiment.
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China’s Tangshan Q235 billet price, the barometer of Chinese steel market sentiment, hit the year’s high of Yuan 3,790/tonne ($557/t) EXW and including the 16% VAT on July 27, or up Yuan 70/t week on week mainly because of the consistent support from concerns on supply tightness, market sources commented.
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China’s capacity utilization rate of blast furnaces at the 247 steel plants nationwide Mysteel monitors reverted down during July 20-26, with the figure lower by 1.66 percentage points on week to 80% as of July 26, according to Mysteel’s latest survey published on July 27.
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The price of Q235 billet in North China's Tangshan rebounded by Yuan 20/tonne ($3/t) on week to Yuan 3,720/t EXW and including the 16% VAT as of July 20, according to Mysteel's latest survey. The strong price recovery - against a background of tightening supply and lackluster demand - was triggered by cutbacks in production undertaken by local integrated steel mills over July 18-21.
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The capacity utilization rate of blast furnaces (BFs) at the surveyed 247 steel plants nationwide inched up further during July 13-19 by 0.14 percentage point on week to 81.7% as of July 19, according to Mysteel's latest survey released on July 20.
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The price of Q235 billet in Tangshan in Hebei province, North China, reversed up by Yuan 100/tonne ($15/t) on week to Yuan 3,700/t EXW including the 16% VAT as of July 13. Steelmakers and traders nursing lower inventories felt no pressure to sell and so lifted offer prices while markets remain buoyant.
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China's national average benchmark price for Q235B grade 4.75mm hot-rolled coil climbed by Yuan 33/tonne ($5/t) on week to Yuan 4,262/t including 16% VAT as of July 13, which was mainly attributed to better sales, market sources shared.
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The price of Q235 billet in Tangshan, Hebei province in North China, the weathervane of China's long steel market, remained unchanged last week from the previous week at Yuan 3,600/tonne ($545/t) EXW including the 16% VAT as of July 6
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The Q235 billet price in Tangshan, Hebei province of North China, the barometer of China's steel market, fell Yuan 50/tonne ($7.6/t) over the week to Yuan 3,600/t EXW including the 16% on June 29 amid the waning buying enthusiasm from local re-rollers.
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Mysteel's national average HRB 400 20mm dia rebar benchmark price dipped for the fourth day on June 27, down another Yuan 13/tonne ($2/t) day on day to Yuan 4,116/t including the 16% VAT, or touching a new low since May 31, mainly due to the cautiousness of the traders and the softening in demand from the construction sites in many parts of China with the high temperatures and heavy rains in the summer days.
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The price of Q235 billet in Tangshan in North China's Hebei province dropped by Yuan 70/tonne ($10.8/t) on week to Yuan 3,650/t EXW including to the 16% VAT on June 22, as suppliers were discounting sales prices on concerns of the increase in stocks, Mysteel noted.
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The Q235 billet price in Tangshan in North China's Hebei province, strengthened for the fifth straight week during June 9-15, rising by another Yuan 40/tonne ($6.3/t) on week to reach Yuan 3,720/t EXW including the 16% VAT as of June 15, a new three-month high, according to Mysteel's latest weekly survey.
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The Q235 billet price in Tangshan, North China's Hebei province, is with the potential for further gains in the coming days with the anticipated supply constraints, market sources shared.
