Chinese domestic steel section market follows a soft trend

The Chinese domestic steel section market has followed a downward trend during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $652/mt (RMB 4,320/mt). The same product is sold at $603/mt (RMB 4,000/mt) in the Tangshan market and at $676/mt (RMB 4,480/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $641/mt (RMB 4,250/mt) in the Shanghai market, at $588/mt (RMB 3,900/mt) in Tangshan and at $683/mt (RMB 4,530/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 $621/mt (RMB 4,120/mt), $597/mt (RMB 3,960/mt) and $689/mt (RMB 4,570/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 in the Chinese domestic market have moved on a downward trend in the seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,500/mt ($528/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,520/mt ($531/mt), while the price of 20MnSi billet is at around RMB 3,600/mt ($543/mt). The prices are all ex-mill, including 17 percent VAT.

The local Chinese steel section market has followed a downward trend in the past week mainly due to the relatively sharply decreases seen in billet prices, while overall trading activity for steel sections has remained weak. Traders are mostly focusing on sales and are willing to offer discounts. As for the coming week, under pressure to bring in funds due to the approach of the end of the month and the National Day Holiday, traders may continue to reduce their prices and so market prices may fluctuate on a downward trend.

$1 = RMB 6.62