The steel section market in China has declined slightly in the past week, with transaction prices of traders lower than their quoted prices. The trading volume still fails to impress.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $685/mt. The same product is sold at $634/mt in the Tangshan market and at $712/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $686/mt in the Shanghai market, at $643/mt in Tangshan and at $717/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 $691/mt, $653/mt and $697/mt. The prices are all ex-mill, including 17 percent VAT. Average prices of steel sections in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market moved on a stable trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,690/mt ($586/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,720/mt ($588/mt), while the price of 20MnSi billet is around RMB 3,810/mt ($608/mt). The prices are all ex-mill, including 17 percent VAT.
At the start of May, some mills have reported that their order volumes are lower than in April, while inventory appears to be on the plentiful side in the market. Given the lack of positive macroeconomic news, traders are not optimistic on the prospects for the market trend in the coming period. It is expected that China's steel section market will maintain its downward trend in the week ahead.