Chinese domestic steel section prices move in upward direction

Chinese domestic steel section prices have indicated an upward trend during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $645/mt (RMB 4,330/mt). The same product is sold at $592/mt (RMB 3,970/mt) in the Tangshan market and at $660/mt (RMB 4,430/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $611/mt (RMB 4,100/mt) in the Shanghai market, at $584/mt (RMB 3,920/mt) in Tangshan and at $681/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 $596/mt (RMB 4,000/mt), $586/mt (RMB 3,930/mt) and $671/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 have risen during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,530/mt ($526/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,550/mt ($529/mt), while the price of 20MnSi billet is at around RMB 3,630/mt ($541/mt). The prices are all ex-mill, including 16 percent VAT.

In the past week, trading activity has been at normal levels in the local Chinese steel section market where prices have risen due to higher billet prices and the impact of environmental protection measures on supply. As for the week ahead, it is believed that domestic steel section prices may fluctuate in an upward direction.

$1 = RMB 6.71