Chinese domestic steel section market shows diverse trends

Chinese domestic steel section prices have indicated diverse trends during the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $404/mt (RMB 2,710/mt). The same product is sold at $358/mt (RMB 2,400/mt) in the Tangshan market and at $418/mt (RMB 2,800/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $401/mt (RMB 2,690/mt) in the Shanghai market, at $355/mt (RMB 2,380/mt) in Tangshan and at $436/mt (RMB 2,920/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 $410/mt (RMB 2,750/mt), $364/mt (RMB 2,440/mt) and $475/mt (RMB 3,180/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 slightly decreased over the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,110/mt ($315/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,140/mt ($319/mt), while the price of 20MnSi billet is at around RMB 2,230/mt ($333/mt). The prices are all ex-mill, including 17 percent VAT.

During the past week, prices in the local Chinese section market have showed diverse trends. Currently the overall trading activity in the Chinese domestic section market is at normal levels. Due to the Chinese holiday on October 1-7, inventory levels of some products in the Chinese domestic section market have increased week on week, while sales volume has declined in the same period. This was expected to put traders under sales pressure as they return to the market after holiday. Currently, prices for products with high inventory levels have decreased in the Chinese domestic section market, while quotations of the products with lower inventory levels have increased slightly. As for next week, market sources believe that domestic section prices in China will move down slightly as trading activity revives.

$1 = RMB 6.70