On the back of higher semi-finished steel costs, section steel prices in the local Chinese market continued to move up steadily in the week ending August 17. As of August 17, the average prices of section steels in the main Chinese 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 |
4,126 |
+26 |
609 |
+4 |
Channel |
160 mm x 65 mm x 8.5 m |
Q235 |
4,182 |
+16 |
617 |
+2 |
I-beam |
250 mm x 118 mm x 10 m |
Q235 |
4,258 |
+34 |
628 |
+6 |
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at RMB 4,250/mt ($627/mt). The same product is sold at RMB 4,200/mt ($622/mt) in the Tangshan market and at RMB 4,150/mt ($612/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 m steel channels stand at RMB 4,250/mt ($627/mt) in the Shanghai market, at RMB 4,230/mt ($624/mt) in Tangshan and at RMB 4,330/mt ($639/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 RMB 4,250/mt ($627/mt), RMB 4,360/mt ($643/mt) and RMB 4,300/mt ($634/mt). The prices are all ex-mill, including 17 percent VAT.
On August 16, major Chinese steel producers Baosteel, Anshan Steel and WISCO all released new steel prices for the domestic market, generally making minor upward adjustments. These increases have not had any strong impact on the market, in particular as regards the section steel market. At present, in the Tangshan market, common carbon billets of 150 mm x 150 mm size are priced at RMB 3,880/mt ($571/mt), while prices of low alloy billets are at RMB 3,910/mt ($576/mt). Both prices include 17 percent VAT.
As market insiders expect, if rolled steel prices in China continue their uptrend in the coming period, semi-finished prices will also follow suit, and if semi-finished prices climb up further, rolled steel prices will continue to trend up.