Chinese domestic steel section market indicates significant increases

The Chinese domestic steel section market has moved on a strong upward 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 $531/mt (RMB 3,660/mt). The same product is sold at $520/mt (RMB 3,580/mt) in the Tangshan market and at $569/mt (RMB 3,920/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $524/mt (RMB 3,610/mt) in the Shanghai market, at $496/mt (RMB 3,420/mt) in Tangshan and at $579/mt (RMB 3,990/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 $520/mt (RMB 3,580/mt), $496/mt (RMB 3,420/mt) and $594/mt (RMB 4,090/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 followed an upward trend during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,140/mt ($456/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,160/mt ($459/mt), while the price of 20MnSi billet is at around RMB 3,240/mt ($470/mt). The prices are all ex-mill, including 17 percent VAT.

The significant increases seen in the Chinese domestic steel section market in the past week occurred against the backdrop of higher prices of billet and raw material futures, while trading activity has improved and is now back to normal levels. Steel section producers have raised their quoted prices, boosting sentiment among traders. As for the coming week, it is believed that, after the strong uptrend in the past week, the domestic steel section market may fluctuate at the current relatively high price levels, with some further slight upward movement also possible. 

 

 

$1 = RMB 6.89