In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $587/mt. The same product is sold at $543/mt in the Tangshan market and at $608/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $586/mt in the Shanghai market, at $544/mt in Tangshan and at $627/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 $603/mt, $571/mt and $616/mt. The prices are all ex-mill, including 17 percent VAT. Average 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 indicating downward fluctuations in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,110/mt ($494/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,140/mt ($498mt), while the price of 20MnSi billet is around RMB 3,230/mt ($513/mt). The prices are all ex-mill, including 17 percent VAT.
Most domestic steel mills lack optimism as regards the prospects for the future trend of the Chinese steel section market. In addition, no major positive developments emerged from the 18th National Congress of the Communist Party of China to spark activity in the Chinese domestic steel markets. It is believed that the Chinese steel section market will continue to decline in the coming week.