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 $488/mt in the Tangshan market and at $542/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $508/mt in the Shanghai market, at $489/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 $544/mt, $492/mt and $547/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 during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,700/mt ($436/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,730/mt ($441/mt), while the price of 20MnSi billet is at around RMB 2,850/mt ($460/mt). The prices are all ex-mill, including 17 percent VAT.
The overall trading volume in the Chinese domestic steel section market remains at a low level, while traders still lack confidence regarding the future prospects for the market. After completion of mills' overhaul works, supply volumes have started to increase a little, but will increase further in the coming period. Domestic producer Masteel has raised its quoted prices for steel sections, which will provide support for market prices. For the coming week, however, the market will likely continue to see a soft trend.