Chinese domestic steel section prices mostly indicate slightly softening

Chinese domestic steel section prices have fluctuated slightly during the past week, mostly softening slightly week on week.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have softened slightly during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,390/mt ($485/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,410/mt ($488/mt), while the price of 20MnSi billet is at around RMB 3,490/mt ($499/mt). The prices are all ex-mill, including 13 percent VAT.

Overall trading activity has been at normal levels in the past seven days in the local Chinese steel section market. Certain local markets influenced by low supply and the rebound in the rebar market and so they have seen minor upticks in prices, though most local markets have moved down by a small margin due to weak demand caused by the offseason. It is believed that during the coming week domestic steel section prices may follow a fluctuating trend, with minor downticks possible.

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

$1 = RMB 6.993