josemourinho

August

27, 2008

Chinese billet price continues downtrend

It is reported that China's steel billet prices have show ncontinuous decline amid the overall weakening steel market. Andprice for 20MnSi steel billet has witnessed an accumulative retreatof over CNY 200 per tonne in Tangshan.

Currently, price for 20MnSi goes at CNY 5,300 per tonne inTangshan, Liaoning, Handan, Shanghai, Jiangsu and Shandong and CNY5,200 per tonne in Shanxi; while price for Q235 common carbonbillet prevails at CNY 5,050 per tonne in Tangshan and Shanxi andCNY 5,200 per tonne in Shandong. Prices have seen an overalldecline of CNY 50 per tonne to CNY 100 per tonne compared with theprevious week.

The overall softening domestic steel market seems to be thefundamental reason for steel billet price decline. And end-usersare holding back from placing orders despite the weakening offerprices for down-stream finished products.