The Chinese domestic steel section market has mostly fluctuated on a downward 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 $529/mt. The same product is sold at $482/mt in the Tangshan market and at $539/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $513/mt in the Shanghai market, at $484/mt in Tangshan and at $552/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 $540/mt, $489/mt and $544/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 softened slightly compared to last week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,670/mt ($434/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,700/mt ($439/mt), while the price of 20MnSi billet is at around RMB 2,810/mt ($457/mt). The prices are all ex-mill, including 17 percent VAT.
While the Chinese domestic section market has mainly fluctuated on a downtrend during the past week, slight upticks have been witnessed in a few local markets due to the high levels of domestic producer Masteel's prices. Overall trading activity in the market is still slack, while profit margins are quite small. Meanwhile, supply volumes have increased, contributing to the weak tendency in the market in the past seven days. For the coming week, it is thought that the domestic steel section market may continue to fluctuate on a soft trend.
$1 = RMB 6.15