In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $621/mt. The same product is sold at $567/mt in the Tangshan market and at $618/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $621/mt in the Shanghai market, at $573/mt in Tangshan and at $629/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 $621/mt, $610/mt and $626/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market are stable week on week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,250/mt ($518/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,280/mt ($522mt), while the price of 20MnSi billet is around RMB 3,370/mt ($537/mt). The prices are all ex-mill, including 17 percent VAT.
The rebound in the steel rebar futures market and positive trends in financial markets have contributed to the stability of the domestic steel section market in the past week. The increased trade volume also provides support for section prices. However, it is not clear if there is sufficient support for a longer-term rebound in steel section prices. Steel producers are currently not so optimistic, and it is thought that the domestic section market may be characterized by softness in the coming week.