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.