Chinese domestic steel section market rises further with support of higher billet prices

Chinese domestic steel section prices have continued their upward movement during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $557/mt (RMB 3,780/mt). The same product is sold at $549/mt (RMB 3,730/mt) in the Tangshan market and at $607/mt (RMB 4,120/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $545/mt (RMB 3,700/mt) in the Shanghai market, at $536/mt (RMB 3,640/mt) in Tangshan and at $616/mt (RMB 4,180/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 $543/mt (RMB 3,690/mt), $538/mt (RMB 3,650/mt) and $620/mt (RMB 4,210/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, the Chinese domestic market has indicated a rising trend during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,320/mt ($489/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,340/mt ($492/mt), while the price of 20MnSi billet is at around RMB 3,420/mt ($504/mt). The prices are all ex-mill, including 17 percent VAT.

With support from increasing billet prices, the local Chinese steel section market has moved upwards in the past week, while overall trading activity was at good levels, though it slowed down a little towards the end of the week as prices rose higher. As for the coming week, it is believed that domestic steel section prices may follow a slight uptrend.

$1 = RMB 6.79