The Chinese domestic steel section market has on average moved on a slight uptrend in the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $579/mt. The same product is sold at $519/mt in the Tangshan market and at $560/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $563/mt in the Shanghai market, at $529/mt in Tangshan and at $600/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 $586/mt, $551/mt and $587/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 indicated a significant increase during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,890/mt ($471/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,920/mt ($476/mt), while the price of 20MnSi billet is around RMB 3,010/mt ($491/mt). The prices are all ex-mill, including 17 percent VAT.
Despite various trends seen in different areas in the country, overall Chinese domestic steel section prices have moved up slightly compared to the previous week. Meanwhile, the trading volume is still at a low level. Due to a shortage of supplies from domestic steel producer Masteel, the overall supply volume in the market has been quite low, leading to low inventory for certain products such as angles. The weak supply and higher billet prices have been the main factors providing support for product prices. China's domestic steel section market is expected to indicate slight fluctuations in the coming week.