During the past week, the Chinese domestic section market followed a fluctuating trend, the inventory levels continued to decrease and the trade volume was decreasing as well. Since it is hard to predict the future tendencies in the market, traders are being cautious and wait for some clear signals to make their next move. Although the steel market has been positively affected by some favorable information, it is still too early to say the section market will recover since it heavily relies on the demand side. The Chinese section market is expected to continue to see fluctuation in coming week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $591/mt. The same product is sold at $581/mt in the Tangshan market and at $616/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $591/mt in the Shanghai market, at $580/mt in Tangshan and at $632/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 $600/mt, $599/mt and $624/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market had a slightly upward during last week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,290/mt ($523/mt), the price of 165 x 225 mm rectangular billet stands at 3,320/mt ($528mt), while the price of 20MnSi billet is around RMB 3,410/mt ($542/mt). The prices are all ex-mill, including 17 percent VAT.