Chinese domestic steel section prices have showed a downward trend in the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $489/mt (RMB 3,400/mt). The same product is sold at $456/mt (RMB 3,170/mt) in the Tangshan market and at $512/mt (RMB 3,560/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $486/mt (RMB 3,380/mt) in the Shanghai market, at $455/mt (RMB 3,160/mt) in Tangshan and at $514/mt (RMB 3,570/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 $504/mt (RMB 3,500/mt), $466/mt (RMB 3,240/mt) and $578/mt (RMB 4,020/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, prices in the Chinese domestic market have significantly moved down during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,720/mt ($391/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,750/mt ($396/mt), while the price of 20MnSi billet is at around RMB 2,850/mt ($410/mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, Chinese domestic steel section prices have showed a fluctuating downward trend, with the overall trading activity being at low levels. Traders have preferred to reduce their section prices amid the declines seen in upstream billet quotations and due to the weakness of demand. Meanwhile, downstream buyers are maintaining a wait-and-see stance. As for the coming week, it is believed that domestic steel section prices will continue their fluctuating trend with a downward movement.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Angle | 50 mm x 50 mm x 5 mm | Q235 | Shanghai | Masteel | 3,400 | 489 | ↓50 |
| Beijing | Shougang | 2,900 | 417 | ↓170 | |||
| Tangshan | Tangshan | 3,170 | 456 | ↓220 | |||
| Tianjin | Zhaobo | 2,940 | 423 | ↓240 | |||
| Guangzhou | Tongsteel | 3,560 | 512 | ↓50 | |||
| Average | - | 3,194 | 460 | ↓146 | |||
| Channel | 160 mm x 65 mm x 8.5 mm | Q235 | Shanghai | Masteel | 3,380 | 486 | ↓90 |
| Beijing | Shagang | 3,010 | 433 | ↓110 | |||
| Tangshan | Tangshan | 3,160 | 455 | ↓220 | |||
| Tianjin | Tianjin | 2,960 | 426 | ↓240 | |||
| Guangzhou | Guangzhou | 3,570 | 514 | ↓50 | |||
| Average | - | 3,216 | 463 | ↓142 | |||
| I Beam | 250 mm x 118 mm x 10 mm | Q235 | Shanghai | Laiwu | 3,500 | 504 | ↓80 |
| Beijing | Laiwu | 3,030 | 436 | ↓150 | |||
| Tangshan | Tangshan | 3,240 | 466 | ↓210 | |||
| Tianjin | Haicheng | 3,050 | 439 | ↓210 | |||
| Guangzhou | Haicheng | 4,020 | 578 | ↓50 | |||
| Average | - | 3,368 | 485 | ↓140 |
$1 = RMB 6.95