The Chinese domestic steel section market has remained on a downward trend in the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $574/mt. The same product is sold at $512/mt in the Tangshan market and at $555/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $555/mt in the Shanghai market, at $515/mt in Tangshan and at $587/mt in the Guangzhou market. In the Shanghai, Tangshan and Guangzhou markets, 250 mm x 118 mm x 10 m I-beam prices stand respectively at $571/mt, $542/mt and $599/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese domestic market have moved down slightly during the past week. In Tangshan, the current price of Q235 150 mm x 150 mm square billet is at RMB 2,860/mt ($461/mt), the price of 165 mm x 225 mm rectangular billet stands at RMB 2,890/mt ($465/mt), while the price of 20MnSi billet is around RMB 2,980/mt ($480/mt). The prices are all ex-mill, including 17 percent VAT.
The overall trading volume in the Chinese domestic steel section market is still on the low side. Many mills have decreased their prices, increasing the negative sentiment among traders in the local market. Billet prices now seem to have hit the bottom and appear unlikely to decline further, and so domestic steel section prices may have some support on the cost side in the coming period. It is thought that the Chinese domestic steel section market may move on a stable trend in the coming week, while some slight softening of prices could also be seen.