In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $497/mt. The same product is sold at $432/mt in the Tangshan market and at $506/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $484/mt in the Shanghai market, at $439/mt in Tangshan and at $531/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 $484/mt, $465/mt and $524/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 domestic market have softened slightly compared to the previous week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,410/mt ($392/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,440/mt ($397/mt), while the price of 20MnSi billet is at around RMB 2,530/mt ($411/mt). The prices are all ex-mill, including 17 percent VAT.
The downward movement of the Chinese domestic steel section market has continued during the past week, with larger decrease margins observed compared to the previous week. Overall trading activity is still on the slack side. Softer billet prices and reductions in mills' steel section quotations have created further room for local traders to cut their prices. Traders have also cut their prices in order to increase their sales volumes ahead of the National Day Holiday (October 1-7). It is believed that the Chinese domestic steel section market will continue to follow a soft trend after the holiday.
$1 = RMB 6.15