In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $564/mt. The same product is sold at $515/mt in the Tangshan market and at $571/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $546/mt in the Shanghai market, at $520/mt in Tangshan and at $587/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 $561/mt, $542/mt and $604/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 indicated a minor decrease during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,910/mt ($466/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,940/mt ($470/mt), while the price of 20MnSi billet is around RMB 3,030/mt ($485/mt). The prices are all ex-mill, including 17 percent VAT.
The slight downtrend in the Chinese domestic steel section market in the past seven days has been due to the softness of billet prices and also due to the low demand volume. Traders state that their inventories are at high levels and that they are seeking to increase their sales volumes towards the end of the month and so they are willing to negotiate on their quoted prices. As for next week, it is believed that some further room exists for the downward movement of domestic steel section prices, though any decreases are expected to be on the small side.