Domestic steel section prices in China have moved up slightly during the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $553/mt. The same product is sold at $546/mt in the Tangshan market and at $572/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $545/mt in the Shanghai market, at $554/mt in Tangshan and at $603/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 $588/mt, $571/mt and $596/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 market have followed an upward trend during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,070/mt ($498/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,100/mt ($502mt), while the price of 20MnSi billet is around RMB 3,190/mt ($517mt). The prices are all ex-mill, including 17 percent VAT.
In the past week, steel section prices in central China have risen by a relatively higher margin compared to prices in other areas of the country. Environmental inspections in Tangshan have contributed to a reduction in production volumes of local mills, providing support for positive sentiment among traders. Meanwhile, billet prices have continued their upward trend during the past week, which has supported the upward movement of steel section prices. However, it is thought that the rebound seen during the past week will not last long because actual demand levels have not improved. In addition, there is still a strong possibility of a decline in the coming period. Overall, with the support of high costs, steel section prices in China in the coming week may fluctuate at high levels and slight upticks may be seen for certain products.