In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $603/mt. The same product is sold at $566/mt in the Tangshan market and at $632/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $600/mt in the Shanghai market, at $577/mt in Tangshan and at $664/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 $600/mt, $592/mt and $624/mt. The prices are all ex-mill, including 17 percent VAT.
As for billet, prices in Tangshan have indicated a slight rebound in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,300/mt ($522/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,330/mt ($527/mt), while the price of 20MnSi billet is around RMB 3,420/mt ($541/mt). The prices are all ex-mill, including 17 percent VAT.
The steel section market in China has mainly followed a downward trend in the past week, though markets close to Tangshan saw a minor rebound due to the small improvement in billet prices in the region. However, without the support of downstream demand, any rebound in prices is not expected to last long. Competition is strong in the current market and, in order to attract downstream demand, mills are choosing to lower their prices. On the other hand, traders continue to reduce their inventory levels, creating increased inventory pressure on the mills. In this context, it is thought that the current downtrend in the Chinese steel section market will continue for another while.