Chinese domestic steel section market moves up slightly

Chinese domestic steel section prices have mostly risen slightly during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $695/mt (RMB 4,370/mt). The same product is sold at $652/mt (RMB 4,100/mt) in the Tangshan market and at $730/mt (RMB 4,590/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $688/mt (RMB 4,330/mt) in the Shanghai market, at $647/mt (RMB 4,070/mt) in Tangshan and at $746/mt (RMB 4,690/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 $676/mt (RMB 4,250/mt), $645/mt (RMB 4,060/mt) and $734/mt (RMB 4,620/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, Chinese domestic market price continued a slightly upward trend during past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,640/mt ($579/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,660/mt ($582/mt), while the price of 20MnSi billet is at around RMB 3,760/mt ($598/mt). The prices are all ex-mill, including 17 percent VAT.

Despite ongoing slack activity as the Chinese New Year holiday approaches, the local Chinese steel section market has moved up by a small margin during the past week with the support of the slight rise in billet prices. As for the coming week, it is thought that domestic steel section prices may follow a stable trend, with demand expected to remain sluggish.

$1 = RMB 6.29