Trading activity still sluggish in Chinese domestic steel section market

Chinese domestic steel section prices have fluctuated during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $496/mt (RMB 3,450/mt). The same product is sold at $488/mt (RMB 3,390/mt) in the Tangshan market and at $519/mt (RMB 3,610/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $499/mt (RMB 3,470/mt) in the Shanghai market, at $486/mt (RMB 3,380/mt) in Tangshan and at $521/mt (RMB 3,620/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 $515/mt (RMB 3,580/mt), $496/mt (RMB 3,450/mt) and $586/mt (RMB 4,070/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 moved down during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,960/mt ($426/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,990/mt ($430/mt), while the price of 20MnSi billet is at around RMB 3,100/mt ($446/mt). The prices are all ex-mill, including 17 percent VAT.

In the past week, Chinese domestic steel section prices first moved up and then started to decline. Many product prices are down slightly on week-on-week basis, while some product prices have moved sideways. Overall trading activity is still very slack. Under pressure to bring in funds, traders are willing to offer some discounts. As for the coming week, it is believed that prices may fluctuate at around current levels, while downstream buyers may maintain a wait-and-see stance. 

 

 

$1 = RMB 6.95