Chinese domestic steel section prices rise slightly

Monday, 27 July 2020 17:55:19 (GMT+3)   |   Shanghai
       

Chinese domestic steel section prices are slightly higher week on week, have first risen and then declined in the past week.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have  moved up by a small margin amid fluctuations. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,470/mt ($496/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,490/mt ($498/mt), while the price of 20MnSi billet is at around RMB 3,570/mt ($510/mt). The prices are all ex-mill, including 13 percent VAT.

Following previous rises, in recent days, since demand has kept declining due to the hot weather and flooding in certain areas, traders have become more willing to reduce their steel section quotations in order to close more deals. Supply volumes have lately fallen slightly, which gives some support for steel section prices. As for the week ahead, as the end of the month approaches, most traders may be under pressure to conclude sales and bring in cash. Accordingly, it is believed that domestic steel section prices may move down slightly.

Product name

Specification

City

Price (RMB/mt)

Weekly change (RMB/mt)

Price ($/mt)

Weekly change ($/mt)

Angle (Q235)

50 mm x 50 mm x 5 mm

Shanghai

3,990

40

570

5

Beijing

3,540

20

505

2

Tangshan

3,750

-10

535

-2

Tianjin

3,550

30

507

4

Guangzhou

4,190

30

598

3

Average price

3,804

22

543

2

Channel (Q235)

160 mm x 65 mm x 8.5 mm

Shanghai

3,690

0

527

-1

Beijing

3,530

30

504

4

Tangshan

3,720

-40

531

-6

Tianjin

3,520

10

503

1

Guangzhou

4,350

50

621

6

Average price

3,762

10

537

1

I-beam (Q235)

250 mm x 118 mm x 10 mm

Shanghai

3,830

0

547

-1

Beijing

3,640

-50

520

-8

Tangshan

3,790

-40

541

-6

Tianjin

3,500

10

500

1

Guangzhou

4,270

30

610

3

Average price

3,806

-10

543

-2

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

 

$1 = RMB 7.003


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