The Chinese domestic steel section market has indicated a slight rebound in prices during the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $435/mt. The same product is sold at $379/mt in the Tangshan market and at $477/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $427/mt in the Shanghai market, at $377/mt in Tangshan and at $500/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 $419/mt, $385/mt and $485/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 followed a stable trend in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,020/mt ($323/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,050/mt ($328/mt), while the price of 20MnSi billet is at around RMB 2,140/mt ($342/mt). The prices are all ex-mill, including 17 percent VAT.
Overall trading activity in the Chinese domestic steel section market is very slow due to the proximity of the Spring Festival holiday (Feb. 18-24). Traders have slightly raised their steel section quotations on the back of support from stable billet prices, but there is still a lack of support from the demand side. It is believed that Chinese domestic steel section prices will just fluctuate within a narrow range in the coming week.
$1 = RMB 6,25