Activity almost at a standstill in Chinese domestic steel section market

The Chinese domestic steel section market has indicated a slight softening in prices in the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $321/mt. The same product is sold at $277/mt in the Tangshan market and at $373/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $312/mt in the Shanghai market, at $285/mt in Tangshan and at $369/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 $323/mt, $301/mt and $380/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 declined significantly during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 1,540/mt ($234/mt), the price of 165 x 225 mm rectangular billet stands at RMB 1,590/mt ($241/mt), while the price of 20MnSi billet is at around RMB 1,680/mt ($255/mt). The prices are all ex-mill, including 17 percent VAT.

The slight price decreases in local Chinese steel section prices in the past week have been due to traders' efforts to conclude sales. Drawing nearer to the Chinese New Year holiday, most producers are already on holiday and the market is expected to practically grind to a halt this week. Overall trading activity is currently close to minimal levels. Some traders have chosen to increase their inventories slightly. As for the coming week, it is thought that Chinese domestic steel section prices may move sideways.

The prices are on theoretical weight basis, all prices include 17 percent VAT and all prices are ex-warehouse.
 
$1 = RMB 6.58