Chinese domestic steel section prices mostly edge up slightly

Chinese domestic steel section prices have indicated minor fluctuations in the past week, with most product prices up 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 $687/mt (RMB 4,550/mt). The same product is sold at $672/mt (RMB 4,450/mt) in the Tangshan market and at $726/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 $677/mt (RMB 4,480/mt) in the Shanghai market, at $669/mt (RMB 4,430/mt) in Tangshan and at $742/mt (RMB 4,910/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 $659/mt (RMB 4,360/mt), $683/mt (RMB 4,520/mt) and $727/mt (RMB 4,810/mt). The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.

As for billet, prices of the semi-finished product in the Chinese domestic market are slightly higher on week-on-week basis after fluctuating by small margins during the course of the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,980/mt ($601/mt), the price of 165 x 225 mm rectangular billet stands at RMB 4,000/mt ($604/mt), while the price of 20MnSi billet is at around RMB 4,100/mt ($619/mt). The prices are all ex-mill, including 17 percent VAT.

Overall trading activity in the Chinese domestic steel section market has remained weak even though traders have been eager to conclude sales. Market inventories are still at low levels and continue to provide support for prices. As for the coming week, domestic steel section prices are unlikely to indicate any significant increases as traders are anxious to conclude sales and so it is thought that prices may fluctuate on a slightly soft trend instead.

$1 = RMB 6.62