During the week ending April 1, the Chinese domestic steel section market has followed a stable trend in general, with only very slight fluctuations.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $624/mt. The same product is sold at $570/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 $621/mt in the Shanghai market, at $570/mt in Tangshan and at $629/mt in the Guangzhou market. In Shanghai, Tangshan and Guangzhou markets, 250 mm x 118 mm x 10 m I-beam prices stand respectively at $621/mt, $610/mt and $626/mt. The prices are all ex-mill, including 17 percent VAT.
As for billet, prices in the Chinese market are now slightly lower as compared to the previous week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,240/mt ($516/mt), the price of 165 x 225 mm rectangular billet stands at 3,270/mt ($520mt), while the price of 20MnSi billet is around RMB 3,360/mt ($535mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, the Chinese domestic steel section market has followed a stable trend in general, with only very slight fluctuations. Since the trading activity has remained slack and also with the approach of the end of month, while some traders in certain markets have chosen to keep their prices stable or decreased their prices very slightly, while some traders in certain markets have increased their prices for certain types of sections slightly as inventories are low. Market experts state that macroeconomic situation is currently not providing any support for the steel market and traders' negative sentiment is aggravating the ongoing weakness in the market. Therefore, the Chinese domestic section market is expected to follow a weak fluctuating trend during the next week.