The Chinese domestic steel section market has moved on an upward trend in the past seven days.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $435/mt. The same product is sold at $400/mt in the Tangshan market and at $473/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $423/mt in the Shanghai market, at $390/mt in Tangshan and at $485/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 $411/mt, $381/mt and $477/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 continued to rebound in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,110/mt ($340/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,140/mt ($345/mt), while the price of 20MnSi billet is at around RMB 2,230/mt ($359/mt). The prices are all ex-mill, including 17 percent VAT.
Chinese domestic steel section prices have fluctuated on an upward trend during the past week, mainly due to the strong trend of billet prices and the price increases announced by domestic producers. In addition, demand, which has improved and is now at normal levels, has also provided support for prices. For the coming week, it is believed that domestic steel section prices may continue to fluctuate in an upward direction in the coming week on the back of support from billet prices.