In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $538/mt. The same product is sold at $488/mt in the Tangshan market and at $560/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $519/mt in the Shanghai market, at $494/mt in Tangshan and at $571/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 $555/mt, $509/mt and $579/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 during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,730/mt ($439/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,760/mt ($444/mt), while the price of 20MnSi billet is at around RMB 2,850/mt ($458/mt). The prices are all ex-mill, including 17 percent VAT.
In the Chinese domestic steel section market, the overall trading volume has remained at low levels, while negative sentiment prevails among traders. The decreases in both steel section prices from mills and in billet market prices have contributed to the increased pessimism among traders. Liquidity tightness among traders and downstream buyers has also contributed to the slowness of demand. The soft trend in the domestic steel section market is expected to continue in the coming week.