Influenced by the increase in domestic billet prices, the steel section market in China has moved up compared to one week ago.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $580/mt. The same product is sold at $579/mt in the Tangshan market and at $615/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $584/mt in the Shanghai market, at $584/mt in Tangshan and at $607/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 $591/mt, $598/mt and $623/mt. The prices are all ex-mill, including 17 percent VAT. 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 are up slightly compared to one week ago. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,330/mt ($525/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,360/mt ($530mt), while the price of 20MnSi billet is around RMB 3,450/mt ($544/mt). The prices are all ex-mill, including 17 percent VAT.
At present, mills' production volumes of steel section are reported to be at normal levels, while the demand side is quite stable. Supply and demand are in equilibrium, while inventory levels have not risen. In general, traders are not under any great pressure from stocks or funds at the present time. With the National Day holiday (Oct. 1-7) now over, it is thought that demand will likely improve in the coming period and that the uptrend in prices will continue.