The Chinese steel section market has mostly followed a downward trend during the past week, though price upticks were observed for certain specifications in some areas in the south and east of the country.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $587/mt. The same product is sold at $532/mt in the Tangshan market and at $603/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $587/mt in the Shanghai market, at $538/mt in Tangshan and at $635/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 $603/mt, $562/mt and $611/mt. The prices are all ex-mill, including 17 percent VAT. The average prices of steel sections in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have moved down during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,080/mt ($489/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,110/mt ($493mt), while the price of 20MnSi billet is around RMB 3,200/mt ($508/mt). The prices are all ex-mill, including 17 percent VAT.
It is believed that the upticks seen in some prices in the south and east were influenced by the upward adjustment in quotations by domestic steel producer Masteel. However, the steel section market in China generally continued to move down under the impact of lower billet prices. The downward trend in the overall domestic steel section market is expected to continue in the coming seven days.