Chinese domestic steel section prices have on average decreased slightly compared to one week ago.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $579/mt. The same product is sold at $514/mt in the Tangshan market and at $555/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $563/mt in the Shanghai market, at $525/mt in Tangshan and at $591/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 $582/mt, $551/mt and $595/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 softened slightly during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,870/mt ($467/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,900/mt ($472/mt), while the price of 20MnSi billet is around RMB 2,990/mt ($486/mt). The prices are all ex-mill, including 17 percent VAT.
The Chinese domestic steel section market has been characterized by fluctuations in the past week, with prices now down slightly on week-on-week basis. While demand has improved a little, the overall trade volume is still not strong enough. Meanwhile, mills' quotations have decreased slightly, putting downward pressure on the market, where the overall trend is still characterized by weakness. Billet prices have softened a little, while traders and mills remain focused on selling off inventory, which means there is still a lack of support for the upward movement of prices. For the coming week, China's domestic steel section prices may indicate further slight downticks.