Traders optimistic in Chinese domestic steel section market

Monday, 13 February 2017 16:14:28 (GMT+3)   |   Shanghai
       

Chinese domestic steel section prices have indicated significant increases during the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $503/mt (RMB 3,460/mt). The same product is sold at $501/mt (RMB 3,450/mt) in the Tangshan market and at $515/mt (RMB 3,540/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $500/mt (RMB 3,440/mt) in the Shanghai market, at $523/mt (RMB 3,600/mt) in Tangshan and at $516/mt (RMB 3,550/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 $507/mt (RMB 3,490/mt), $503/mt (RMB 3,460/mt) and $590/mt (RMB 4,060/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, the Chinese domestic market has moved on a strong upward trend during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,100/mt ($451/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,120/mt ($453/mt), while the price of 20MnSi billet is at around RMB 3,220/mt ($468/mt). The prices are all ex-mill, including 17 percent VAT.

Increases in billet prices and in producers' steel section ex-works prices have caused traders in the Chinese domestic steel section market to raise their prices by significant margins in the past week, even though trading activity has remained at low levels. Demand is expected to improve in the coming week and so sentiment among traders is upbeat. It is thought that domestic steel section prices in China will indicate some fluctuations on an upward trend in the week ahead.

 

Product name

Spec.

Category

City 

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Angle

50 mm x 50 mm x 5 mm

Q235 

Shanghai

Masteel

3,460

503

110

Beijing

Shougang

3,090

449

130

Tangshan

Tangshan

3,450

501

350

Tianjin

Zhaobo

3,190

464

320

Guangzhou

Tongsteel

3,540

515

30

Average

 -

3,346

486

188

Channel

160 mm x 65 mm x 8.5 mm

Q235

Shanghai

Masteel

3,440

500

120

Beijing

Shagang

3,160

459

200

Tangshan

Tangshan

3,600

523

460

Tianjin

Tianjin

3,320

483

410

Guangzhou

Guangzhou

3,550

516

30

Average

 -

3,414

496

244

I Beam

250 mm x 118 mm x 10 mm

Q235

Shanghai

Laiwu

3,490

507

120

Beijing

Laiwu

3,170

461

190

Tangshan 

Tangshan

3,460

503

280

Tianjin

Haicheng

3,210

467

250

Guangzhou

Haicheng

4,060

590

30

Average

 -

3,478

506

174

$1 = RMB 6.88


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