Chinese domestic steel section market prices mostly slightly increase

Chinese domestic steel section prices have mostly continued to indicate a slight uptrend during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $656/mt (RMB 4,560/mt). The same product is sold at $626/mt (RMB 4,350/mt) in the Tangshan market and at $692/mt (RMB 4,810/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $629/mt (RMB 4,370/mt) in the Shanghai market, at $630/mt (RMB 4,380/mt) in Tangshan and at $708/mt (RMB 4,920/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 $629/mt (RMB 4,370/mt), $635/mt (RMB 4,410/mt) and $699/mt (RMB 4,860/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 moved up slightly during past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,980/mt ($573/mt), the price of 165 x 225 mm rectangular billet stands at RMB 4,000/mt ($576/mt), while the price of 20MnSi billet is at around RMB 4,080/mt ($587/mt). The prices are all ex-mill, including 16 percent VAT.

Prices in the local Chinese section steel market have mostly maintained their slight uptrend during past week. Overall trading activity has been at normal level. Currently, traders mostly focus on sales and willing to offer certain discounts in order to close more deals. As for next week, considering that the supply volume will be influenced by the environment protection policy, it is believed that steel section market prices may follow a fluctuating trend.

$1 = RMB 6.94