The Chinese domestic steel section market has continued its slight trend in most parts of the country during the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $538/mt. The same product is sold at $486/mt in the Tangshan market and at $551/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $517/mt in the Shanghai market, at $489/mt in Tangshan and at $563/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 $550/mt, $498/mt and $571/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese domestic market have weakened slightly during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,720/mt ($437/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,750/mt ($441/mt), while the price of 20MnSi billet is at around RMB 2,840/mt ($456/mt). The prices are all ex-mill, including 17 percent VAT.
Trading activity in China's domestic steel section market has been very slow during the past week. Several mills have started to carry out overhaul work and so output volumes have declined. However, since demand is still very low, traders have had to reduce their prices in order to attract more business. Since supply volumes have declined, it is thought that market prices may decline by smaller margins in the week ahead, With the rainy season approaching, demand in the market is unlikely to improve in the coming period.