The steel section market in China has continued to be characterized by weakness in the past week, though, with billet prices rebounding in central China, prices of steel sections (especially angles) in certain cities also saw a slight rebound.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $657/mt. The same product is sold at $617/mt in the Tangshan market and at $685/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $658/mt in the Shanghai market, at $617/mt in Tangshan and at $680/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 $672/mt, $633/mt and $680/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 seen a rebound in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,520/mt ($557/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,550/mt ($562/mt), while the price of 20MnSi billet is around RMB 3,640/mt ($576/mt). The prices are all ex-mill, including 17 percent VAT.
The trading volume in the Chinese steel section market has seen some improvement, but still remains slack. Meanwhile, inventories have indicated a decrease. The mood in the market is still negative, though moves by the Chinese government to encourage growth offer some room for hope. Downstream demand needs to recover before any significant rebound in prices may be seen. The Chinese steel section market is expected to continue to show signs of weakness in the coming seven days.