The Chinese domestic steel section market has mostly followed a downward trend in the past seven days.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $431/mt. The same product is sold at $368/mt in the Tangshan market and at $477/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $423/mt in the Shanghai market, at $371/mt in Tangshan and at $487/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 $415/mt, $379/mt and $474/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 indicated a rebound in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 1,970/mt ($321/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,000/mt ($325/mt), while the price of 20MnSi billet is at around RMB 2,090/mt ($340/mt). The prices are all ex-mill, including 17 percent VAT.
While prices in the Chinese steel section market have mostly moved on a downward trend in the past week amid increased supplies and the ongoing weakness of demand, prices in certain cities such as Tianjin and Tangshan have rebounded due to the increases seen in billet prices. However, it is believed that there is insufficient support from the demand side for the price rebound in question and that domestic steel section prices will follow a slight overall downtrend in the coming week.