Chinese domestic steel section market receives support from billet price trend

The Chinese domestic steel section market has followed an 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 $326/mt. The same product is sold at $301/mt in the Tangshan market and at $373/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $316/mt in the Shanghai market, at $309/mt in Tangshan and at $369/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 $329/mt, $316/mt and $380/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, prices in the Chinese domestic market have indicated a strong upward movement in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 1,720/mt ($268/mt), the price of 165 x 225 mm rectangular billet stands at RMB 1,770/mt ($275/mt), while the price of 20MnSi billet is at around RMB 1,860/mt ($289/mt). The prices are all ex-mill, including 17 percent VAT.
 
The local Chinese steel section market has moved on a rising trend in the past week in line with the uptrend of billet prices. However, trading activity is still slack and traders are willing to offer discounts in order to attract business. As for the coming week, it is thought that domestic steel section prices may soften slightly.

The prices are on theoretical weight basis, all prices include 17 percent VAT and all prices are ex-warehouse.
 
$1 = RMB 6.52