More major Chinese steel companies have held their December flat product contract prices level from November, while Anshan Iron & Steel hiked most flats prices by CNY 100/tonne ($15.07). Chinese flats mill prices have marked a definite trend till the end of the year, and there is little pressure on the domestic market to move up or down, Kallanish notes.

Northern China's Hebei Iron & Steel (Hegang) and Shougang, north-eastern Benxi Iron & Steel and north-western Bayi Iron & Steel (Bagang) have all kept unchanged their December contract ex-works flats prices (see table below). Among the domestic major mills announcing new offers, only Angang lifted its offer for the last month of the year.

Selected mills' flat product prices for December, excluding VAT (CNY/t)

Steel type Hegang price Shougang price Shougang change Bengang price Bagang price Hegang, Bengang & Bagang price change
HRC 5.5*1500*C Q235 5,200 4,370
no change 4,490
4,620 no change
HDG*1.0mm*1250*C DX51D+Z 6,250
5,450 no change 5,750 5,200 no change
CRC SPCC 1.00mm*1250*C 6,200 5,300 no change 5,450 4,850
no change
Colour-coated 0.5mm*1000*C CGCC 7,900 n.a n.a n.a 6,220
no change
P&O Steel SPHC 3.0m*1500 5,700 5,125 no change 5,250 n.a n.a
Thick plate 14-20mm*2000 Q235A 5,000 4,250 +100 n.a 4,570 no change

Source: Company price lists Shougang, Hegang, Bagang; Bengang price effective from 1 Dec