Chinese domestic steel section market showed fluctuating with downward trend

Chinese domestic steel section showed a fluctuating with reduce trend in past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $672/mt (RMB 4,380/mt). The same product is sold at $641/mt (RMB 4,180/mt) in the Tangshan market and at $702/mt (RMB 4,580/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $666/mt (RMB 4,340/mt) in the Shanghai market, at $629/mt (RMB 4,100/mt) in Tangshan and at $707/mt (RMB 4,610/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 $655/mt (RMB 4,270/mt), $635/mt (RMB 4,140/mt) and $713/mt (RMB 4,650/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, Chinese domestic market price got a slightly reduce trend in past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,790/mt ($581/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,810/mt ($584/mt), while the price of 20MnSi billet is at around RMB 3,890/mt ($597/mt). The prices are all ex-mill, including 17 percent VAT.

During the past week, domestic section prices in some regions of China have remained unchanged, while in other regions prices have moved down. Meanwhile, overall trading volume in the local Chinese section market has remained weak over the past week. The production volume in the local Chinese section market has decreased due to the environmental measures. This has supported domestic section prices in the spot market. But due to the weakness of demand, most traders are more willing to offer discounts. As for next week, market sources believe domestic section quotations in China will continue their fluctuating trend.

$1 = RMB 6.52