Chinese domestic steel section prices indicate relatively large decreases

Monday, 28 December 2020 17:42:03 (GMT+3)   |   Shanghai
       

Chinese domestic steel section prices have indicated relatively large decreases during the past seven days.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have indicated a sharp downtrend during the past week. In Tangshan, the current price of Q235 150 mm x 150 mm square billet is at RMB 3,830/mt ($587/mt), the price of 165 mm x 225 mm rectangular billet stands at RMB 3,850/mt ($590/mt), while the price of 20MnSi billet is at around RMB 3,930/mt ($602/mt). The prices are all ex-mill, including 13 percent VAT.

In the past week, local Chinese steel section prices first increased but then decreased by relatively large margins. Overall trading activity has slackened and is currently weak since prices have been following a decreasing trend. Upstream billet prices have declined sharply, causing steel section prices to follow suit. Supply volumes have recently decreased since raw material prices are at high levels and production volumes are limited. As for the week ahead, considering the declining trend on the cost side and the wait-and-see stance among buyers, it is believed that domestic steel section prices may fluctuate on a downward trend.

Product name

Specification

City

Price (RMB/mt)

Weekly change (RMB/mt)

Price ($/mt)

Weekly change ($/mt)

Angle (Q235)

50 mm x 50 mm x 5 mm

Shanghai

4,560

-50

699

-5

Beijing

3,940

-240

604

-34

Tangshan

4,160

-300

638

-43

Tianjin

3,900

-280

598

-40

Guangzhou

4,750

-170

728

-23

Average price

4,262

-208

653

-29

Channel (Q235)

160 mm x 65 mm x 8.5 mm

Shanghai

4,460

100

684

18

Beijing

3,950

-240

605

-34

Tangshan

4,200

-180

644

-25

Tianjin

3,910

-280

599

-40

Guangzhou

4,820

-170

739

-23

Average price

4,268

-154

654

-21

I-beam (Q235)

250 mm x 118 mm x 10 mm

Shanghai

4,490

140

688

24

Beijing

3,980

-240

610

-34

Tangshan

4,200

-210

644

-29

Tianjin

3,910

-280

599

-40

Guangzhou

4,780

-170

733

-23

Average price

4,272

-152

655

-21

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

$1 = RMB 6.524


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