In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $613/mt. The same product is sold at $586/mt in the Tangshan market and at $618/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $613/mt in the Shanghai market, at $578/mt in Tangshan and at $629/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 $626/mt, $608/mt and $631/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have fluctuated on a downward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,290/mt ($524/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,320/mt ($529mt), while the price of 20MnSi billet is around RMB 3,410/mt ($543/mt). The prices are all ex-mill, including 17 percent VAT.
The uptrend seen in China's steel section market in the past week has lacked support from demand, but was rather linked to optimism regarding the prospects for the market in the post-holiday period. At the same time, some slight downticks were observed in a few local markets in China in the past week as sellers sought to bring in cash. It is believed that there is little chance of further changes in domestic steel section prices being seen in the days left before the start of the holiday.