Chinese domestic steel section market mostly moves up

Monday, 26 June 2017 11:22:11 (GMT+3)   |   Shanghai
       

Domestic prices in the local Chinese steel section market have mostly moved up during the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $535/mt (RMB 3,660/mt). The same product is sold at $522/mt (RMB 3,570/mt) in the Tangshan market and at $586/mt (RMB 4,010/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $526/mt (RMB 3,600/mt) in the Shanghai market, at $512/mt (RMB 3,500/mt) in Tangshan and at $595mt (RMB 4,070/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 $524/mt (RMB 3,590/mt), $515/mt (RMB 3,520/mt) and $599/mt (RMB 4,100/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, Chinese domestic market showed a slightly upward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,220/mt ($471/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,240/mt ($474/mt), while the price of 20MnSi billet is at around RMB 3,320/mt ($485/mt). The prices are all ex-mill, including 17 percent VAT.

Although domestic prices in the local Chinese section market have followed diverse trends, prices have mostly moved up in the past week, with the influence of the upward movement of the upstream billet prices and raw material future prices. But as domestic steel section prices increase, the overall trading volume in the local Chinese section market has significantly declined. Therefore, certain traders have chosen to reduce their domestic section prices. Meanwhile, the market inventory is at very low levels, still strongly supporting the section prices. However, since this is the last week of the current month, traders are under pressure of funding. Market sources state that traders may mostly focus on their sales in order to conclude more deals. As for the next week, domestic steel section prices in China are expected to fluctuate in a narrow range.

 

Product name

Spec.

Category

City 

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Angle

50 mm x 50 mm x 5 mm

Q235 

Shanghai

Masteel

3,660

535

↓30

Beijing

Shougang

3,460

506

0

Tangshan

Tangshan

3,570

522

20

Tianjin

Zhaobo

3,450

504

40

Guangzhou

Tongsteel

4,010

586

30

Average

 -

3,630

531

12

Channel

160 mm x 65 mm x 8.5 mm

Q235

Shanghai

Masteel

3,600

526

↓30

Beijing

Shagang

3,340

488

0

Tangshan

Tangshan

3,500

512

30

Tianjin

Tianjin

3,400

497

40

Guangzhou

Guangzhou

4,070

595

30

Average

 -

3,582

524

14

I Beam

250 mm x 118 mm x 10 mm

Q235

Shanghai

Laiwu

3,590

525

↓30

Beijing

Laiwu

3,360

491

0

Tangshan 

Tangshan

3,520

515

40

Tianjin

Haicheng

3,380

494

40

Guangzhou

Haicheng

4,100

599

30

Average

 -

3,590

525

16

$1 = RMB 6.84


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