In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $589/mt. The same product is sold at $568/mt in the Tangshan market and at $605/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $589/mt in the Shanghai market, at $568/mt in Tangshan and at $629/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 $605/mt, $583/mt and $615/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have moved on an upward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,210/mt ($510/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,240/mt ($515mt), while the price of 20MnSi billet is around RMB 3,330/mt ($529/mt). The prices are all ex-mill, including 17 percent VAT.
Some traders think that the latest upward movement in domestic steel section prices may have been excessive and that it could be followed by downward price adjustments. In addition, demand still fails to impress during the current off-season. Overall, it is thought that the Chinese steel section market may see further upticks during the coming week, though some downward correction of prices could also be seen.