Chinese domestic steel section prices move down slightly

Chinese domestic steel section prices have followed a slightly downward trend during the past week.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have shown a slightly soft trend during the past seven days. In Tangshan, the current price of Q235 150 mm x 150 mm square billet is at RMB 2,940/mt ($414/mt), the price of 165 mm x 225 mm rectangular billet stands at RMB 2,960/mt ($417/mt), while the price of 20MnSi billet is at around RMB 3,040/mt ($428/mt). The prices are all ex-mill, including 13 percent VAT.

Mainstream ex-China H-beam section steel offer prices from Shanghai or Tianjin ports stand at $485-530/mt FOB as of today, Monday, October 13, down slightly compared to September 29.

Overall trading activity in the domestic steel section market has been sluggish in the past week since downstream buyers have mostly held a wait-and-see stance, while prices have softened slightly amid the minor downticks seen in billet prices. As for the week ahead, it is believed that steel section prices may just indicate slight fluctuations.

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

$1 = RMB 7.101