Chinese domestic steel section market mostly moves on upward trend

Chinese domestic steel section prices have mostly moved on an upward 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 $514/mt (RMB 3,540/mt). The same product is sold at $498/mt (RMB 3,430/mt) in the Tangshan market and at $557/mt (RMB 3,840/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $511/mt (RMB 3,520/mt) in the Shanghai market, at $482/mt (RMB 3,320/mt) in Tangshan and at $572/mt (RMB 3,940/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 $505/mt (RMB 3,480/mt), $482/mt (RMB 3,320/mt) and $586/mt (RMB 4,040/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 increased week on week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,020/mt ($438/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,040/mt ($441/mt), while the price of 20MnSi billet is at around RMB 3,120/mt ($453/mt). The prices are all ex-mill, including 17 percent VAT.
 
With billet prices rebounding at the beginning of last week, domestic steel section prices also followed an upward trend. However, given the slight declines recorded by billet prices and raw material futures prices at the end of last week, steel section prices in China started to soften slightly. Overall trading activity in the market has improved due to the reduced volatility of the market. Nevertheless, traders are still inclined to wait and see given the fluctuation of futures prices. As for the coming week, it is believed that domestic steel section prices may fluctuate on a slightly soft trend.

$1 = RMB 6.89