Local Chinese steel section market impacted by softer billet prices

Monday, 27 October 2014 15:07:09 (GMT+3)   |   Shanghai
       

The Chinese domestic steel section market has moved on a slightly soft 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 $489/mt. The same product is sold at $445/mt in the Tangshan market and at $508/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $479/mt in the Shanghai market, at $442/mt in Tangshan and at $534/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 $481/mt, $461/mt and $527/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 followed a downward trend in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,450/mt ($400/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,480/mt ($405/mt), while the price of 20MnSi billet is at around RMB 2,570/mt ($420/mt). The prices are all ex-mill, including 17 percent VAT.

The decrease in billet prices and the ongoing slackness of downstream demand have been the main reasons for the soft trend of domestic steel section prices in China in the past week. After the increases in billet prices seen in previous weeks, a correction in prices of billet was inevitable, market players said. As for the coming week, Chinese domestic steel section prices will likely continue their slightly soft trend.

$1 = RMB 6.12


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