Chinese domestic steel section market showed a fluctuating trend last week. The mainstream quoted prices of steel mills are stable, while Angang Steel Limited released their new price policy. On the other hand, the traders were under the pressure of collecting funding so that the bargaining range was limited due to the high cost. Accordingly, the domestic section market is expected to keep a fluctuating tendency.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $756/mt. The same product is sold at $756/mt in the Tangshan market and at $767/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $757/mt in the Shanghai market, at $767/mt in Tangshan and at $782/mt in the Guangzhou market. In Shanghai, Tangshan and Guangzhou markets, 250 mm x 118 mm x 10 m I-beam prices stand respectively at $751/mt, $773/mt and $775/mt. The prices are all ex-mill, including 17 percent VAT.
Product name | Specification | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Angle | 50 mm x 50 mm x 5 m | Q235 | 4, 746 | 16 | 743 | $3 |
Channel | 160 mm x 65 mm x 8.5 m | Q235 | 4,854 | 18 | 760 | $3 |
I beam | 250 mm x 118 mm x 10 m | Q235 | 4,844 | -2 | 758 | -$0 |
As for billet, prices in the Chinese market increased slightly compared to the previous week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 4,450/mt ($696/mt), the price of 165 x 225 mm rectangular billet stands at 4,480/mt ($701/mt), while the price of 20MnSi billet is around RMB 4,570/mt ($715/mt). The prices are all ex-mill, including 17 percent VAT.
In the Eastern section market in China, the price followed a mixed trend, mostly, because of the macroeconomic unstable elements, as well as the slackness of the demand. On the whole, the eastern section market will follow a fluctuating trend in near future.
In the Southern section market, the trader volume is at normal levels. Currently, the relatively low local inventory levels and the demand being weak make it difficult for the price to go up. The southern section price is expected to remain stable in the short term.
Last week, the northern section market also remained stable. Since the trade volume was not good enough, the traders did not tend to change the price. Most traders choose to wait and see regarding demand. Therefore, on the back of high cost, the price of northern market is expected to see a fluctuating upward trend.