The Chinese domestic steel section market has moved on a slight downtrend 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 $489/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 $492/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, $498/mt and $555/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 week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,710/mt ($436/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,740/mt ($441/mt), while the price of 20MnSi billet is at around RMB 2,860/mt ($461/mt). The prices are all ex-mill, including 17 percent VAT.
Domestic steelmaker Masteel recently completed maintenance work, resulting in increased supply volumes of channels in the Chinese market, causing channel prices to decline in the past week. Meanwhile, as inventory levels of other section products are at low levels, prices of other products have just indicated very slight declines. The overall trading volume in the market is still at low levels. As more mills finish their overhaul works, supply volumes may increase in the coming period. For the coming week, it is thought that domestic steel section prices may continue their slight downtrend.