Chinese domestic steel section prices mostly follow slight uptrend

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

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $657/mt (RMB 4,560/mt). The same product is sold at $621/mt (RMB 4,310/mt) in the Tangshan market and at $692/mt (RMB 4,800/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $630/mt (RMB 4,370/mt) in the Shanghai market, at $631/mt (RMB 4,380/mt) in Tangshan and at $707/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 $630/mt (RMB 4,370/mt), $633/mt (RMB 4,390/mt) and $699/mt (RMB 4,850/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 showed a slight uptrend during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,970/mt ($572/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,990/mt ($575/mt), while the price of 20MnSi billet is at around RMB 4,070/mt ($586/mt). The prices are all ex-mill, including 16 percent VAT.

Overall trading activity has been at normal levels in the Chinese steel section market during past week, while prices have risen slightly due to minor upticks seen in billet prices. Meanwhile, supply volumes have recently been limited by environmental protection measures, and this provides support for steel section market prices. As for the week ahead, it is believed that steel section prices in China may follow a slight uptrend.

$1 = RMB 6.94