The steel section market in China has moved up in the past week amid the upward trend of billet prices.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $588/mt. The same product is sold at $545/mt in the Tangshan market and at $601/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $588/mt in the Shanghai market, at $553/mt in Tangshan and at $631/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 $604/mt, $566/mt and $609/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have indicated a rebound during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,140/mt ($499/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,170/mt ($504mt), while the price of 20MnSi billet is around RMB 3,260/mt ($518/mt). The prices are all ex-mill, including 17 percent VAT.
While prices have increased in the Chinese steel section market, traders are not sure how long the uptrend will last as demand and transaction volumes have shown no sign of improvement. Observers state that the market may return to a stable trend in the coming week, while traders are advised to adopt a cautious stance.