In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $574/mt. The same product is sold at $554/mt in the Tangshan market and at $599/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $576/mt in the Shanghai market, at $557/mt in Tangshan and at $599/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 $584/mt, $574/mt and $604/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market moved on a slightly upward trend during last week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,140/mt ($495/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,170/mt ($500mt), while the price of 20MnSi billet is around RMB 3,260/mt ($514/mt). The prices are all ex-mill, including 17 percent VAT.
Output cuts by steel mills and increases in prices of upstream materials have provided support for prices of steel sections in China. It is expected that steel section supplies will decline due to overhaul work carried out by some steelmakers in China, such as Masteel. Furthermore, it is reported that demand may improve as activity increases on some projects in October. At the same time, steel section inventories in China are currently on the low side. In this overall context, it is thought that the steel section market in China will follow a strong trend after the National Day holiday (October 1-7).