In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $665/mt. The same product is sold at $604/mt in the Tangshan market and at $691/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $661/mt in the Shanghai market, at $606/mt in Tangshan and at $691/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 $672/mt, $631/mt and $688/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 indicated a significant fall during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,490/mt ($552/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,520/mt ($557/mt), while the price of 20MnSi billet is around RMB 3,610/mt ($571/mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, steel section prices in China have seen a small decline in the east and southern parts of the country, while larger decreases have been seen in the central and northern areas. The domestic billet market has continued to soften, while steel mills have reduced their quoted prices for steel sections. Demand is slack, both at home and abroad. Steel mills are under pressure as order volumes continue to fall. However, it appears that the downtrend in iron ore prices may come to a halt and this could provide some support for the steel markets. It is thought that the Chinese steel section market will see a slowdown in its falling movement in the week ahead.