In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $631/mt. The same product is sold at $592/mt in the Tangshan market and at $626/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $629/mt in the Shanghai market, at $586/mt in Tangshan and at $637/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 $637/mt, $611/mt and $639/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 moved up after the holiday. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,330/mt ($530/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,360/mt ($535mt), while the price of 20MnSi billet is around RMB 3,450/mt ($549/mt). The prices are all ex-mill, including 17 percent VAT.
Most traders and mills have returned to the domestic steel section market after the holiday, though trading activity is still slack. Despite the low trading volume, market prices are indicating an upward trend on the back of increased ex-mill prices announced before the holiday, while in addition market players traditionally try to raise their prices at the start of the Chinese New Year. The domestic steel section market is expected to maintain its upward movement in the coming week, while demand will determine the scale of the price increases.