Chinese domestic steel section market edges up slightly

Chinese domestic steel section prices have indicated minor fluctuation in the past week, with most prices up slightly week on week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $687/mt (RMB 4,550/mt). The same product is sold at $674/mt (RMB 4,460/mt) in the Tangshan market and at $730/mt (RMB 4,830/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $677/mt (RMB 4,480/mt) in the Shanghai market, at $671/mt (RMB 4,440/mt) in Tangshan and at $745/mt (RMB 4,930/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 $656/mt (RMB 4,340/mt), $690/mt (RMB 4,570/mt) and $730/mt (RMB 4,830/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 of the semi-finished steel product 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 3,950/mt ($597/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,970/mt ($600/mt), while the price of 20MnSi billet is at around RMB 4,070/mt ($615/mt). The prices are all ex-mill, including 17 percent VAT.

Overall trading activity in the local Chinese steel section market has remained sluggish in the past week. As for the coming week, it is believed that, with billet prices and low inventory levels still giving sufficient support, domestic steel section prices may just indicate minor fluctuations, though slight decreases are also possible as traders may be more willing to reduce their prices as the end of the year approaches.

$1 = RMB 6.62