In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $686/mt. The same product is sold at $644/mt in the Tangshan market and at $718/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $687/mt in the Shanghai market, at $665/mt in Tangshan and at $726/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 $692/mt, $657/mt and $702/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have moved on a stable trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,720/mt ($591/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,750/mt ($593/mt), while the price of 20MnSi billet is around RMB 3,840/mt ($613/mt). The prices are all ex-mill, including 17 percent VAT.
Overall, overproduction and weak demand have been the key factors causing the soft trend of the domestic steel section market. Meanwhile, the slowing of the economy has also been a contributing factor. It is thought that China's domestic steel section market will fluctuate on a downward trend in the coming week.