The Chinese domestic steel section market has seen only slight fluctuations in prices during the past week.
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 $447/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 $476/mt in the Shanghai market, at $445/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 $482/mt, $461/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 risen slightly compared to the previous week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,430/mt ($396/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,460/mt ($401/mt), while the price of 20MnSi billet is at around RMB 2,550/mt ($416/mt). The prices are all ex-mill, including 17 percent VAT.
With the conclusion of the Asia-Pacific Economic Cooperation (APEC) meeting in Beijing, domestic steel mills in central and northern China have started to resume their normal production activities. Meanwhile, the low demand volume still remains the main problem in the overall domestic steel section market. With the winter coming, trading activity is unlikely to improve and traders are pessimistic as regards the future prospects for the market. In addition, with supply volumes expected to increase in the next few weeks, prices may again start to move on a downward trend. As for the coming week, the domestic steel section market will likely indicate a slight declining movement.
$1 = RMB 6.13