Both supply and demand at low levels in Chinese domestic steel section market

Chinese domestic steel section prices have moved on an upward trend in the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $410/mt. The same product is sold at $358/mt in the Tangshan market and at $416/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $396/mt in the Shanghai market, at $361/mt in Tangshan and at $443/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 $396/mt, $378/mt and $453/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 are down slightly compared to one week ago. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,010/mt ($300/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,040/mt ($305/mt), while the price of 20MnSi billet is at around RMB 2,130/mt ($318/mt). The prices are all ex-mill, including 17 percent VAT.

The Chinese domestic steel section market has increased at a slower rate in the past week. Meanwhile, billet prices first moved up in the past week, but then started to move down, with prices down slightly week on week. Overall trading activity is still slack, but supply is also at low levels. As for the coming week, it is believed that domestic steel section prices may just trend down slightly like billet prices and then start to follow a slightly fluctuating trend.

$1 = RMB 6.69