During the past week (March 17-23), sales prices of section steel products in the Chinese domestic market have been moving up at a rapid pace, in line with the other domestic finished steel markets. The average prices of section products as of March 23 in China's main cities are as follows:
Product Name |
Specification |
Category |
Average Price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
Angle |
50 mm x 50 mm x 5 m |
Q235 |
3,890 |
+174 |
570 |
+26 |
Channel |
160 mm x 65 mm x 8.5 m |
Q235 |
3,964 |
+182 |
581 |
+27 |
I Beam |
250 mm x 118 mm x 10 m |
Q235 |
3,988 |
+193 |
585 |
+28 |
Over the past week period, prices of large and medium sections have mostly indicated total increases in the range of RMB 100-200/mt ($15-30/mt) in the domestic market. With the mills pushing up their prices aggressively, buyers have been eager to replenish their inventories.
Local steel producer Anyang Steel has lately twice increased its ex-mill prices of angles and channels, with the aggregate increase coming to RMB 50/mt ($7/mt). In addition, Maanshan Steel has raised its angle and channel prices by RMB 180/mt ($26/mt). Thus, the producer's angle and channel prices are respectively standing at RMB 3,990-4,110/mt ($585-603/mt) and RMB 4,080-4,120/mt ($598-604/mt), excluding 17 percent VAT.