In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $476/mt. The same product is sold at $395/mt in the Tangshan market and at $489/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $465/mt in the Shanghai market, at $397/mt in Tangshan and at $521/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 $474/mt, $410/mt and $511/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 continued to soften in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,140/mt ($344/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,170/mt ($349/mt), while the price of 20MnSi billet is at around RMB 2,260/mt ($363/mt). The prices are all ex-mill, including 17 percent VAT.
The Chinese domestic steel section market has seen smaller decreases in the past week as compared to the previous week. The ongoing soft trend of billet prices has contributed to negative sentiment among steel section traders, while it has encouraged steel section producers to increase their production volumes. Accordingly, increasing supplies have exerted downward pressure on prices amid the continuing sluggishness of demand. As for the coming week, it is believed that prices will remain on a downward trend especially due to the high levels of inventory in the market.
$1 = RMB 6.22