The Chinese domestic steel section market has fluctuated on an upward 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 $568/mt. The same product is sold at $530/mt in the Tangshan market and at $563/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $551/mt in the Shanghai market, at $545/mt in Tangshan and at $592/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 $561/mt, $558/mt and $604/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 an upward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,020/mt ($486/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,050/mt ($490/mt), while the price of 20MnSi billet is at around RMB 3,140/mt ($505/mt). The prices are all ex-mill, including 17 percent VAT.
Chinese domestic steel section prices have followed an upward trend during the past two weeks on the back of rising prices of billet and other raw materials. In addition, mills have raised their steel section quotations and demand has started to improve, while traders have also been eager to push up their prices following previous excessive decreases. Some market players are not optimistic on the prospects for the price trend in the coming period as they do not think demand will continue to improve for long. As regards the week ahead, it is thought that Chinese domestic steel section prices will continue to move upward, though the overall increase margin is not expected to be large.
$1 = RMB 6.22