The Chinese domestic steel section market has followed a stable trend in most parts of the country during the past week.
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 $551/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $514/mt in the Shanghai market, at $489/mt in Tangshan and at $563/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 $550/mt, $498/mt and $571/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 rebounded slightly during the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,730/mt ($445/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,760/mt ($450/mt), while the price of 20MnSi billet is at around RMB 2,880/mt ($470/mt). The prices are all ex-mill, including 17 percent VAT.
The overall trading volume in the Chinese domestic steel section market has remained at low levels in the past week, while sentiment among traders is still negative. While billet prices are up slightly, steel section mills have reduced their quoted prices by small margins, though steel section prices in the domestic market have trended sideways or just indicated very slight fluctuations. It is believed that domestic steel section prices will just fluctuate within a narrow range in the coming week.