Lackluster activity in Chinese domestic steel section market

Chinese domestic steel section prices have moved on a slight downtrend during the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $478/mt (RMB 3,320/mt). The same product is sold at $437/mt (RMB 3,040/mt) in the Tangshan market and at $502/mt (RMB 3,490/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $473/mt (RMB 3,290/mt) in the Shanghai market, at $450/mt (RMB 3,130/mt) in Tangshan and at $504/mt (RMB 3,500/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 $483/mt (RMB 3,360/mt), $463/mt (RMB 3,200/mt) and $573/mt (RMB 3,980/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 rebounded slightly during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,780/mt ($400/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,810/mt ($404/mt), while the price of 20MnSi billet is at around RMB 2,900/mt ($417/mt). The prices are all ex-mill, including 17 percent VAT.
 
Overall trading activity in the Chinese domestic steel section market has been weak due to the winter off-season for business, contributing to the soft trend of the market, though the upticks in billet prices have provided some degree of support for prices. It is thought that domestic steel section prices will fluctuate on a slightly soft trend in the week ahead.

$1 = RMB 6.93