Chinese domestic steel section prices mostly move sideways

Chinese domestic steel section prices have mostly moved sideways in the past week, with some slight upticks also seen.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $642/mt (RMB 4,330/mt). The same product is sold at $565/mt (RMB 3,800/mt) in the Tangshan market and at $648/mt (RMB 4,370/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $605/mt (RMB 4,080/mt) in the Shanghai market, at $559/mt (RMB 3,770/mt) in Tangshan and at $678/mt (RMB 4,570/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 $585/mt (RMB 3,940/mt), $570/mt (RMB 3,840/mt) and $668/mt (RMB 4,500/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 prices have risen slightly during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,430/mt ($509/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,450/mt ($512/mt), while the price of 20MnSi billet is at around RMB 3,530/mt ($524/mt). The prices are all ex-mill, including 16 percent VAT.

Overall trading activity has been at low levels in the past week in the Chinese steel section market where prices have been mostly stable, though with some slight upticks due to increases in some producers’ ex-works prices and low inventory levels in the market. However the upward movement has been limited by the weakness of demand, with many buyers already having left the market ahead of the Chinese New Year holiday. It is believed that steel section prices in China will remain stable in the week remaining before the holiday.

$1 = RMB 6.74