Chinese domestic steel section prices rise slightly

Chinese domestic steel section prices have increased slightly increased during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $618/mt (RMB 4,220/mt). The same product is sold at $611/mt (RMB 4,170/mt) in the Tangshan market and at $665/mt (RMB 4,540/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $612/mt (RMB 4,180/mt) in the Shanghai market, at $611/mt (RMB 4,170/mt) in Tangshan and at $695/mt (RMB 4,750/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 $625/mt (RMB 4,270/mt), $600/mt (RMB 4,100/mt) and $687/mt (RMB 4,690/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 price continued an upward trend during past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,800/mt ($556/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,820/mt ($559/mt), while the price of 20MnSi billet is at around RMB 3,920/mt ($574/mt). The prices are all ex-mill, including 16 percent VAT.

The Chinese domestic steel section market has moved up slightly in the past week supported by increases in billet prices and in rebar futures prices, while trading activity in the market has remained slack, and this has restricted the upward movement of prices. Environmental protection measures have limited production volumes, thereby providing support for steel section prices. As for the coming week, it is thought that the local steel section market may again move up slightly.

$1 = RMB 6.83