Chinese domestic steel section prices move up slightly

Chinese domestic steel section prices have risen by a small margin during the past week.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have showed an upward trend during the past week. In Tangshan, the current price of Q235 150 mm x 150 mm square billet is at RMB 3,640/mt ($554/mt), the price of 165 mm x 225 mm rectangular billet stands at RMB 3,660/mt ($557/mt), while the price of 20MnSi billet is at around RMB 3,740/mt ($569/mt). The prices are all ex-mill, including 13 percent VAT.

Local Chinese steel section prices have moved up slightly in the past seven days, amid the ongoing uptrend of prices of billet and other raw materials. However, demand has mostly remained weak as prices were considered by buyers to be at high levels. Traders are still not willing to increase their stocks as they want to avoid risks. There has not been any decrease in supply volumes, which means there is still pressure on steel section prices. As for the week ahead, it is believed that steel section prices may fluctuate in a slightly downward direction as the colder weather is likely to impact demand.

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

$1 = RMB 6.572