Chinese domestic steel section market edges upwards slightly

Chinese domestic steel section prices have mostly moved up slightly during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $665/mt (RMB 4,390/mt). The same product is sold at $648/mt (RMB 4,280/mt) in the Tangshan market and at $705/mt (RMB 4,650/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $662/mt (RMB 4,370/mt) in the Shanghai market, at $644/mt (RMB 4,250/mt) in Tangshan and at $724/mt (RMB 4,780/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 $653/mt (RMB 4,310/mt), $656/mt (RMB 4,330/mt) and $709/mt (RMB 4,680/mt). The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, Chinese domestic market price got an upward trend during past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,840/mt ($582/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,860/mt ($585/mt), while the price of 20MnSi billet is at around RMB 3,960/mt ($600/mt). The prices are all ex-mill, including 17 percent VAT.

Trading activity has remained sluggish in the local Chinese steel section market where prices have edged upwards with the support of higher billet prices. In order to avoid risks, most traders have kept their inventories at low levels amid the off-season on the downstream side. As for the coming week, it is believed that the domestic steel section market will fluctuate on an upward trend with the support of billet prices.

$1 = RMB 6.60