Chinese domestic steel section prices fluctuate slightly

Chinese domestic steel section prices have fluctuated slightly during the past week.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have risen by a small margin during the past week. In Tangshan, the current price of Q235 150 mm x 150 mm square billet is at RMB 3,510/mt ($493/mt), the price of 165 mm x 225 mm rectangular billet stands at RMB 3,530/mt ($496/mt), while the price of 20MnSi billet is at around RMB 3,610/mt ($507/mt). The prices are all ex-mill, including 13 percent VAT.

Overall trading activity in the domestic steel section market has slackened a little since most downstream buyers have kept their inventories at low levels, while activity is also weak due to the off-season and hot weather conditions. Increases in prices of billet and other raw materials have provided support for steel section prices. As for the week ahead, amid the weakness of demand but support from the cost side, it is believed that steel section prices may continue to indicate slight fluctuations.

The prices are all ex-mill, including 13 percent VAT.

$1 = RMB 7.121