Billet prices provide support for sluggish Chinese steel section market

The Chinese domestic steel section market has mostly moved on a stable trend in the past week, though with some slight upticks in prices also seen.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $432/mt. The same product is sold at $382/mt in the Tangshan market and at $471/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $416/mt in the Shanghai market, at $374/mt in Tangshan and at $479/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 $413/mt, $379/mt and $468/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 indicated minor increases in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,040/mt ($332/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,070/mt ($337/mt), while the price of 20MnSi billet is at around RMB 2,160/mt ($351/mt). The prices are all ex-mill, including 17 percent VAT.
 
Overall trading activity in the local Chinese steel section market has remained slack during the past week. At the same time, however, upticks in upstream billet prices have provided support for slight increases in some domestic steel section prices. As for the coming week, it is expected that local steel section prices in China will likely just indicate slight fluctuations.