Chinese domestic steel section market mostly moves down slightly

Monday, 09 July 2018 17:15:38 (GMT+3)   |   Shanghai
       

Chinese domestic steel section market has mostly continued to move down slightly in past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $627/mt (RMB 4,150/mt). The same product is sold at $597/mt (RMB 3,950/mt) in the Tangshan market and at $675/mt (RMB 4,470/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $624/mt (RMB 4,130/mt) in the Shanghai market, at $600/mt (RMB 3,970/mt) in Tangshan and at $707/mt (RMB 4,680/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 $637/mt (RMB 4,220/mt), $615/mt (RMB 4,070/mt) and $696/mt (RMB 4,610/mt). The prices are all ex-mill, including 16 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have risen slightly in the past seven days, supported by the rebound of rebar futures prices towards the end of the week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,630/mt ($548/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,650/mt ($551/mt), while the price of 20MnSi billet is at around RMB 3,750/mt ($566/mt). The prices are all ex-mill, including 16 percent VAT.

Trading activity in the local Chinese steel section market has remained at low levels. Supply volumes have increased recently, while most traders hold a negative view of the market prospects and have been willing to reduce prices in order to close more deals. As for the coming week, it is thought that domestic steel section prices may mainly continue to follow a slightly soft trend amid weak demand and higher inventory.

Product name

Spec.

Category

City 

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Angle

50 mm x 50 mm x 5 mm

Q235 

Shanghai

Masteel

4,150

627

↓10

Beijing

Shougang

3,800

574

↓30

Tangshan

Tangshan

3,950

597

0

Tianjin

Zhaobo

3,840

580

↓30

Guangzhou

Tongsteel

4,470

675

↓20

Average

 -

4,042

611

↓18

Channel

160 mm x 65 mm x 8.5 mm

Q235

Shanghai

Masteel

4,130

624

↓10

Beijing

Shagang

3,820

577

↓30

Tangshan

Tangshan

3,970

600

0

Tianjin

Tianjin

3,790

573

↓30

Guangzhou

Guangzhou

4,680

707

0

Average

 -

4,078

616

↓14

I Beam

250 mm x 118 mm x 10 mm

Q235

Shanghai

Laiwu

4,220

637

↓10

Beijing

Laiwu

3,890

588

↓30

Tangshan 

Tangshan

4,070

615

0

Tianjin

Haicheng

3,870

585

↓30

Guangzhou

Haicheng

4,610

696

0

Average

 -

4,132

624

↓14

 

$1 = RMB 6.62

 


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