Chinese domestic steel section prices fluctuate slightly

Monday, 17 September 2018 17:21:33 (GMT+3)   |   Shanghai
       

Chinese domestic steel section prices have indicated small fluctuations during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $655/mt (RMB 4,500/mt). The same product is sold at $635/mt (RMB 4,360/mt) in the Tangshan market and at $700/mt (RMB 4,810/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $639/mt (RMB 4,390/mt) in the Shanghai market, at $638/mt (RMB 4,380/mt) in Tangshan and at $719/mt (RMB 4,940/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 $642/mt (RMB 4,410/mt), $645/mt (RMB 4,430/mt) and $703/mt (RMB 4,830/mt). The prices are all ex-mill, including 16 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have softened during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 4,020/mt ($585/mt), the price of 165 x 225 mm rectangular billet stands at RMB 4,040/mt ($588/mt), while the price of 20MnSi billet is at around RMB 4,140/mt ($603/mt). The prices are all ex-mill, including 16 percent VAT.

Due to rumors regarding an easing of environmental protection measures, domestic steel section prices stopped moving upwards and began to decrease in the middle of last week. However, a government clarification that the rumors in question were just speculative caused the steel section market to rebound slightly towards the end of the week. Overall trading activity has been at low levels given the fluctuation of prices and also as downstream buyers have mostly maintained a wait-and-see stance. As for the week ahead, demand has not shown any significant improvement in this traditionally busy time of the year for sales, though support from low supply and inventory is still strong. It is thought that the domestic steel section market may indicate slight upward fluctuations in the coming week.

Product name

Spec.

Category

City 

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Angle

50 mm x 50 mm x 5 mm

Q235 

Shanghai

Masteel

4,500

655

↓10

Beijing

Shougang

4,130

601

↑10

Tangshan

Tangshan

4,360

635

↓80

Tianjin

Zhaobo

4,150

604

↑10

Guangzhou

Tongsteel

4,810

700

↓10

Average

 -

4,390

639

↓16

Channel

160 mm x 65 mm x 8.5 mm

Q235

Shanghai

Masteel

4,390

639

0

Beijing

Shagang

4,130

601

10

Tangshan

Tangshan

4,380

638

↓80

Tianjin

Tianjin

4,120

600

↑10

Guangzhou

Guangzhou

4,940

719

↓30

Average

 -

4,392

639

↓18

I Beam

250 mm x 118 mm x 10 mm

Q235

Shanghai

Laiwu

4,410

642

↓10

Beijing

Laiwu

4,150

604

0

Tangshan 

Tangshan

4,430

645

↓70

Tianjin

Haicheng

4,200

611

↑10

Guangzhou

Haicheng

4,830

703

↓30

Average

 -

4,404

641

↓20

 

$1 = RMB 6.87


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