Chinese domestic steel section prices down slightly

Chinese domestic steel section prices are down slightly compared to one week ago.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $494/mt (RMB 3,400/mt). The same product is sold at $436/mt (RMB 3,000/mt) in the Tangshan market and at $513/mt (RMB 3,530/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $491/mt (RMB 3,380/mt) in the Shanghai market, at $433/mt (RMB 2,980/mt) in Tangshan and at $516/mt (RMB 3,550/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 $488/mt (RMB 3,360/mt), $438/mt (RMB 3,010/mt) and $576/mt (RMB 3,960/mt). The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.
 
Billet prices in the Chinese domestic market have also decreased slightly compared to the price levels seen one week earlier. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,720/mt ($395/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,740/mt ($398/mt), while the price of 20MnSi billet is at around RMB 2,820/mt ($410/mt). The prices are all ex-mill, including 17 percent VAT.
 
In the past week, Chinese domestic steel section prices first decreased but then increased towards the end of the week amid the rebound seen in billet and raw material futures prices. Trading activity in the steel section market has been slack. Confidence among traders is weak. Most traders are seeking to conclude sales in order to bring in cash. As for the coming week, it is believed that domestic steel section prices will soften slightly.

$1 = RMB 6.88