The Chinese domestic steel section market has indicated a slight rebound during the past week, while overall demand in the market has remained on the low side.
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 $452/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 $474/mt in the Shanghai market, at $452/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, $471/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 indicated minor downticks compared to the previous week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,420/mt ($395/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,450/mt ($400/mt), while the price of 20MnSi billet is at around RMB 2,540/mt ($415/mt). The prices are all ex-mill, including 17 percent VAT.
During the past week, the central and northern regions in the Chinese domestic steel section market have been influenced by production restrictions caused by the Asia-Pacific Economic Cooperation (APEC) in Beijing and by the resulting low market inventories, with prices in these regions increasing slightly. However, trading activity slackened further after the slight price rises in question. In the coming week, it is thought that prices may soften slightly in the given regions and return to their previous levels, with prices in other regions expected to remain mostly stable or indicate some slight softness.
$1 = RMB 6.12