Demand picks up slightly in Chinese domestic steel section market

The Chinese domestic steel section market has continued its upward trend during the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $416/mt. The same product is sold at $381/mt in the Tangshan market and at $446/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $403/mt in the Shanghai market, at $392/mt in Tangshan and at $473/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 $418/mt, $413/mt and $489/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.
 
As for billet, prices in the Chinese domestic market have increased in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,120/mt ($318/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,150/mt ($323/mt), while the price of 20MnSi billet is at around RMB 2,250/mt ($338/mt). The prices are all ex-mill, including 17 percent VAT.
 
Demand in the local Chinese steel section market has remained at low levels in the past week, though it has improved slightly compared to previous weeks. The rise in billet prices has contributed to the increases in steel section prices. With the weather no longer as hot as it was recently, demand may improve and provide additional support for steel section prices. It is thought that the domestic steel section market will continue its rising trend in the week ahead.

$1 = RMB 6.66