Chinese domestic steel section market indicates minor fluctuations

Chinese domestic steel section prices have indicated slight fluctuations during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $570/mt (RMB 3,850/mt). The same product is sold at $553/mt (RMB 3,740/mt) in the Tangshan market and at $623/mt (RMB 4,210/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $650/mt (RMB 3,770/mt) in the Shanghai market, at $547/mt (RMB 3,700/mt) in Tangshan and at $627/mt (RMB 4,240/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 $552/mt (RMB 3,730/mt), $553/mt (RMB 3,740/mt) and $636/mt (RMB 4,300/mt). The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, prices in the Chinese domestic market have softened slightly in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,430/mt ($507/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,450/mt ($510/mt), while the price of 20MnSi billet is at around RMB 3,530/mt ($522/mt). The prices are all ex-mill, including 17 percent VAT.

In the past week, some product prices in the local Chinese steel section market have increased slightly due to low inventory levels, while other product prices have indicated a slight softening due to the influence of the minor downticks in billet prices. Overall trading activity in the steel section market has remained weak amid the current hot weather conditions. It is thought that domestic steel section prices may indicate minor fluctuations in the week ahead, with the relatively high levels of raw material prices still providing support for the market.

$1 = RMB 6.76