6 Steel Mills Raise Prices, Steel Price Rebound Space May Be Limited
Jun 15, 2024
On June 14, the domestic steel market in China exhibited a mixed trend with prices of steel products rising and falling. Tangshan Qian'an's square billet ex-factory price, including tax, increased by 20 RMB to 3,400 RMB/tonne. The demand in certain cities was stimulated by the rise in futures, leading to an improvement in transaction volume.
Rebar (HRB400E 20mm): 3,725-3,760
Coil (HRB400E 8mm): 3,942-3,711
Wire Rod (8.0 high line HPB300): 3,935-3,712
Hot-rolled Coil (4.75mm): 3,791-79
Galvanized Pipe (4" x 3.75"): 4,665-13
Six steel mills have raised the ex-factory price of construction steel by 20-30 RMB/tonne. Despite the current market being in a low-demand season, affected by high temperatures in the north and the rainy season in the south, the supply pressure is increasing as rebar production continues to rise. It is predicted that the domestic construction steel prices will continue to fluctuate next week.
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