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 $570/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 $616/mt in the Shanghai market, at $570/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. Average steel section prices in China can be viewed in the SteelOrbis price reports section.
As for billet, prices in the Chinese market are up slightly on week-on-week basis. 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 3,280/mt ($522mt), while the price of 20MnSi billet is around RMB 3,370/mt ($537mt). The prices are all ex-mill, including 17 percent VAT.
Quotations in the Chinese domestic steel section market have been stable in some areas in the past week, while they have indicated slight declines in other areas of the country. However, even if quoted prices are stable, most traders and mills have been offering discounts and reductions in actual negotiations in order to conclude deals. Influenced by the Tomb-Sweeping Holiday, the trading volume in the market has been low, while most of the demand side has been maintaining a wait-and-see stance and market sentiment has been negative. Due to the supplies which entered the market recently, traders are facing significant inventory pressure and are willing to offer further discounts in order to increase their trading volumes. As a result, China's steel section market is expected to indicate a more obvious downtrend in the coming week.