Chinese domestic steel section market moves on rising trend

Chinese domestic steel section prices have moved on an 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 $484/mt (RMB 3,340/mt). The same product is sold at $467/mt (RMB 3,220/mt) in the Tangshan market and at $513/mt (RMB 3,540/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $480/mt (RMB 3,310/mt) in the Shanghai market, at $478/mt (RMB 3,300/mt) in Tangshan and at $514/mt (RMB 3,550/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 $487/mt (RMB 3,360/mt), $484/mt (RMB 3,340/mt) and $588/mt (RMB 4,060/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 increased during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,880/mt ($417/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,910/mt ($422/mt), while the price of 20MnSi billet is at around RMB 3,020/mt ($438/mt). The prices are all ex-mill, including 17 percent VAT.

The Chinese domestic steel section market has fluctuated on an upward trend in the past week, while overall trading activity has been slack due to the off-season for business and given the approach of the Chinese New Year holiday. The price increases in the market have been due to the higher prices of billets and other raw materials. As for the coming week, it is believed that producers and traders will exit the market ahead of the Chinese New Year holiday and so trading activity will be extremely slack and prices may follow a stable trend.

$1 = RMB 6.90