In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $575/mt. The same product is sold at $561/mt in the Tangshan market and at $592/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $575/mt in the Shanghai market, at $567/mt in Tangshan and at $608/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 $592/mt, $577/mt and $616/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 market have moved down slightly over the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,160/mt ($513/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,190/mt ($517mt), while the price of 20MnSi billet is around RMB 3,280/mt ($532mt). The prices are all ex-mill, including 17 percent VAT.
The overall trading volume in the Chinese domestic steel section market has been on the sluggish side. Since Friday, August 23, the steel section market in central China as well as domestic billet prices have trended down slightly. However, in line with these downward movements, trading volumes started to improve a little, providing support for prices. Traders indicate that right now supply and demand in the domestic steel section market are balanced, with upstream costs being the main factor behind the fluctuations in the market. China's domestic steel section market is expected to continue its fluctuating trend in the coming seven days.