In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $569/mt. The same product is sold at $558/mt in the Tangshan market and at $583/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $567/mt in the Shanghai market, at $556/mt in Tangshan and at $603/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, $571/mt and $608/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 followed a slight downward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,100/mt ($502/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,140/mt ($509mt), while the price of 20MnSi billet is around RMB 3,230/mt ($523mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, most local markets for steel sections in China, apart from some local markets in the central region, have still been catching up with previous increases in billet prices. However, some traders are now more cautious given the minor downticks in billet prices in the past week. In the coming week, steel section prices in China will most probably follow a stable trend, while traders will likely maintain a wait-and-see stance as they observe the direction of billet prices.