The Chinese steel section market has seen further downward movement during the past week, though the decrease margins have been smaller.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $616/mt. The same product is sold at $561/mt in the Tangshan market and at $632/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $616/mt in the Shanghai market, at $569/mt in Tangshan and at $664/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 $616/mt, $591/mt and $624/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market are at the same levels compared to last week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,280/mt ($519/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,310/mt ($524/mt), while the price of 20MnSi billet is around RMB 3,400/mt ($538/mt). The prices are all ex-mill, including 17 percent VAT.
Previous decreases seen in billet prices have caused steel mills to reduce their quoted prices for steel sections again. Meanwhile, there is little support for the market on the macroeconomic side, while downstream demand is still slack due to the off-season. The trading volume has been low for a long time now. It is thought that the Chinese steel section market will continue its downtrend in the coming week, though with smaller decreases.