The Chinese domestic steel section market has been characterized by fluctuations in the past week, with average prices down slightly on week-on-week basis.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $624/mt. The same product is sold at $576/mt in the Tangshan market and at $621/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $621/mt in the Shanghai market, at $580/mt in Tangshan and at $629/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 $624/mt, $615/mt and $634/mt. The prices are all ex-mill, including 17 percent VAT.
As for billet, prices in the Chinese market have moved down slightly in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,280/mt ($523/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,310/mt ($527mt), while the price of 20MnSi billet is around RMB 3,400/mt ($542/mt). The prices are all ex-mill, including 17 percent VAT.
The Chinese domestic steel section market has edged down slightly in the past week, especially in eastern China, against a background of low demand and slack trading activity. However, some small upticks have been witnessed in central China due to shortages of inventory of certain materials. It is thought that, since billet prices will hardly see strong increases and as demand for sections is on the weak side, steel section prices in the domestic market are unlikely to register significant increases. For the coming week, more fluctuations on a slightly soft trend overall are expected to be seen in China's steel section market.