Chinese domestic steel section market prices mostly go upward

Chinese domestic steel section prices mostly have showed a fluctuating with 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 $625/mt (RMB 4,310/mt). The same product is sold at $559/mt (RMB 3,860/mt) in the Tangshan market and at $643/mt (RMB 4,440/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $593/mt (RMB 4,090/mt) in the Shanghai market, at $556/mt (RMB 3,840/mt) in Tangshan and at $670/mt (RMB 4,620/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 $574/mt (RMB 3,960/mt), $564/mt (RMB 3,890/mt) and $659/mt (RMB 4,550/mt). The prices are all ex-mill, including 16 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, Chinese domestic market prices have remained stable week onweek. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,390/mt ($491/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,410/mt ($494/mt), while the price of 20MnSi billet is at around RMB 3,490/mt ($506/mt). The prices are all ex-mill, including 16 percent VAT.

Chinese section steel market prices have mostly followed a fluctuating but slightly upward trend during past week. Overall trading activity has remained at low levels due to the off-season and cold weather. Upstream billet prices have mostly moved sideways in the last seven days. According to market sources, low market inventory was the main reason of the slight uptrend of domestic section prices since demand has not increased recently. As for the week ahead, local Chinese steel section market prices may indicate a fluctuating trend in a narrow range. 

$1 = RMB 6.90