In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $476/mt. The same product is sold at $376/mt in the Tangshan market and at $482/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $461/mt in the Shanghai market, at $379/mt in Tangshan and at $513/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 $465/mt, $389/mt and $503/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 moved on a soft trend in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,030/mt ($327/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,060/mt ($332/mt), while the price of 20MnSi billet is at around RMB 2,150/mt ($347/mt). The prices are all ex-mill, including 17 percent VAT.
The Chinese domestic steel section market has seen relatively large decreases in prices during the past week, though smaller declines have been observed in eastern China compared to the northern and central regions of the country. Overall trading activity is still slack, while reductions in mills' quoted prices and decreases in billet prices have also contributed to the downward movement of steel section prices. As for the coming week, domestic steel section prices will likely continue their downward trend due to sluggish demand and lack of support on the cost side.
$1 = RMB 6,20