Under the influence of rebounds in domestic prices of major steel products, the steel section market in China also followed an upward trend at the beginning of the past week. However, without support from demand, local steel section prices started to move towards a stable trend coming near the end of the week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $563/mt. The same product is sold at $554/mt in the Tangshan market and at $585/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $570/mt in the Shanghai market, at $546/mt in Tangshan and at $590/mt in the Guangzhou market. In Shanghai, Tangshan and Guangzhou markets, 250 mm x 118 mm x 10 m I-beam prices stand respectively at $574/mt, $563/mt and $581/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 have continued to fluctuate in an upward direction during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,100/mt ($492/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,130/mt ($495mt), while the price of 20MnSi billet is around RMB 3,220/mt ($509/mt). The prices are all ex-mill, including 17 percent VAT.
Overall, steel section prices in China are now higher than they were one week ago. Meanwhile, the reduction in China's crude steel output volume in August as compared to July provides a boost for the market, though time may be required for this to have an actual impact. It is thought that China's steel section market will fluctuate in a slight upward direction in the coming week.