Chinese domestic steel section prices have 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 $407/mt. The same product is sold at $351/mt in the Tangshan market and at $408/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $392/mt in the Shanghai market, at $356/mt in Tangshan and at $435/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 $396/mt, $377/mt and $445/mt. The prices are all ex-mill, including 17 percent VAT.
As for billet, prices in the Chinese domestic market have indicated strong increases in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,030/mt ($317/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,060/mt ($322/mt), while the price of 20MnSi billet is at around RMB 2,180/mt ($341/mt). The prices are all ex-mill, including 17 percent VAT.
The Chinese steel section market has indicated larger increases in the southern part of China in the past week. Domestic steel section producers have raised their prices significantly on the back of the increases in billet prices. Traders have followed suit and raised their prices, though activity in the market is still slack due to the hot weather. As for the coming week, it is believed that domestic steel section prices may continue to increase though at a slower rate.