As for billet, prices in the Chinese market have softened slightly compared to one week ago. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,150/mt ($511/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,180/mt ($515mt), while the price of 20MnSi billet is around RMB 3,270/mt ($530mt). The prices are all ex-mill, including 17 percent VAT.
While the Chinese domestic steel section market has overall moved down by a slight margin in the past week, some variety has been observed in price trends in regional markets in China in line with different levels of activity. However, trading has for the most part been on the sluggish side in the domestic market. The downtick in billet prices has also contributed to the slight softening in steel section prices. Nevertheless, market observers believe that domestic billet prices will start to trend upward again in the coming week. Considering the demand side is still not performing as well as expected, it is thought that Chinese domestic steel section prices will again indicate some minor downward adjustment in the week ahead.