Chinese domestic steel section market fluctuates on slightly soft trend

The Chinese domestic steel section market has fluctuated on a slightly soft trend during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $554/mt (RMB 3,770/mt). The same product is sold at $538/mt (RMB 3,660/mt) in the Tangshan market and at $607/mt (RMB 4,130/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $543/mt (RMB 3,690/mt) in the Shanghai market, at $526/mt (RMB 3,580/mt) in Tangshan and at $612/mt (RMB 4,160/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 $541/mt (RMB 3,680/mt), $534/mt (RMB 3,630/mt) and $624/mt (RMB 4,240/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 are at the same levels compared to one week ago, having increased in the early part of the past week before starting to move down. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,320/mt ($488/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,340/mt ($491/mt), while the price of 20MnSi billet is at around RMB 3,420/mt ($503/mt). The prices are all ex-mill, including 17 percent VAT.

The local Chinese steel section market has fluctuated on a slight downtrend during the past week. Overall trading activity has been slack due to the relatively high price levels and hot weather conditions. As for the coming week, it is believed that domestic steel section prices may indicate further fluctuations, with prices likely to decline slightly.

$1 = RMB 6.80