Chinese domestic steel section prices slightly decrease

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

As for billet, prices of the semi-finished steel product in the Chinese domestic market have showed a slight downtrend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,500/mt ($512/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,520/mt ($515/mt), while the price of 20MnSi billet is at around RMB 3,600/mt ($527/mt). The prices are all ex-mill, including 13 percent VAT.

Chinese section steel prices have slightly decreased during the past week. Overall trading activity has slightly reduced and been at a normal level. Upstream billet prices also saw slight decrease but producers have not reduced their quoted prices which still gives certain support to steel section prices. Demand is still weak which can hardly support the steel section prices. As for the week ahead, considering that inventory levels may increase before national holiday and weakness of upstream raw material prices may still continue, it is believed that steel section prices may fluctuate in a limited range.

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

$1 = RMB 6.836