Demand slackens further in Chinese domestic steel section market

Tuesday, 31 October 2017 10:29:25 (GMT+3)   |   Shanghai
       

The Chinese domestic steel section market has mostly followed a downward trend during the past week.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $648/mt (RMB 4,310/mt). The same product is sold at $623/mt (RMB 4,140/mt) in the Tangshan market and at $690/mt (RMB 4,590/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $642/mt (RMB 4,270/mt) in the Shanghai market, at $620/mt (RMB 4,120/mt) in Tangshan and at $696/mt (RMB 4,630/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 $627/mt (RMB 4,170/mt), $635/mt (RMB 4,220/mt) and $704/mt (RMB 4,680/mt). The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the table below.

As for billet, prices of the semi-finished steel product in the Chinese domestic market have softened slightly in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,700/mt ($556/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,720/mt ($559/mt), while the price of 20MnSi billet is at around RMB 3,800/mt ($571/mt). The prices are all ex-mill, including 17 percent VAT.

With overall trading activity remaining at low levels and even slackening further, the Chinese domestic steel section market has moved on a soft trend during the past week. At the same time, reduced supply due to environmental measures has provided some support for prices. Approaching the end of the month, traders are more willing to reduce prices to conclude sales and bring in cash and so domestic steel section prices may soften further.

Product name

Spec.

Category

City 

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Angle

50 mm x 50 mm x 5 mm

Q235 

Shanghai

Masteel

4,310

648

↓70

Beijing

Shougang

4,010

603

↓50

Tangshan

Tangshan

4,140

623

↓100

Tianjin

Zhaobo

3,950

594

↓40

Guangzhou

Tongsteel

4,590

690

0

Average

 -

4,200

632

↓52

Channel

160 mm x 65 mm x 8.5 mm

Q235

Shanghai

Masteel

4,270

642

↓20

Beijing

Shagang

3,930

591

↓50

Tangshan

Tangshan

4,120

620

↓120

Tianjin

Tianjin

3,900

586

↓40

Guangzhou

Guangzhou

4,630

696

0

Average

 -

4,170

627

↓46

I Beam

250 mm x 118 mm x 10 mm

Q235

Shanghai

Laiwu

4,170

627

↓10

Beijing

Laiwu

4,000

602

↓70

Tangshan 

Tangshan

4,220

635

↓40

Tianjin

Haicheng

3,920

589

↓40

Guangzhou

Haicheng

4,680

704

0

Average

 -

4,198

631

↓32

 

$1 = RMB 6.65

 


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