Trading activity slackens further in local Chinese steel section market

Monday, 25 August 2014 17:21:14 (GMT+3)   |   Shanghai
       

 

The Chinese domestic steel section market has mostly continued its 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 $469/mt in the Tangshan market and at $535/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 $477/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 $535/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 continued their downward movement during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,600/mt ($419/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,690/mt ($434/mt), while the price of 20MnSi billet is at around RMB 2,800/mt ($442/mt). The prices are all ex-mill, including 17 percent VAT.

Trading activity in the Chinese domestic section market is still sluggish and has slackened further during the past week, while traders continue to hold a negative view of the future prospects for the market. The relatively significant decrease in billet prices during the past seven days has also contributed to the downward movement of steel section prices, especially in central China. Without the support of an improvement in trading activity, it is believed that the downward trend in the Chinese domestic steel section market may continue in the coming week.


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