During the past week, China's domestic steel section market has seen slight upward or downward movements depending on the different regions, with the average price in the overall market up slightly compared to last week. Meanwhile, inventory levels in China's steel section market have indicated minor rises over the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $613/mt. The same product is sold at $580/mt in the Tangshan market and at $618/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $613/mt in the Shanghai market, at $573/mt in Tangshan and at $629/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 $626/mt, $605/mt and $631/mt. The prices are all ex-mill, including 17 percent VAT. Average steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market have fluctuated in an upward direction during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,320/mt ($529/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,350/mt ($532mt), while the price of 20MnSi billet is around RMB 3,430/mt ($546/mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, the contrasting price adjustments of various steel mills in China contributed to the different price trends seen in local markets for steel sections in the past week. Meanwhile, the increase in the trading volume means the downstream side has positive expectations for the market tendency after the Spring Festival/Chinese New Year holiday. However, approaching the holiday, the trading volume is expected to decline and prices are not likely to change much.