Prices fluctuate in Chinese domestic steel section market

As of January 29, Chinese domestic steel section prices have mostly declined slightly on week-on-week basis.

In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $690/mt (RMB 4,370/mt). The same product is sold at $649/mt (RMB 4,100/mt) in the Tangshan market and at $725/mt (RMB 4,590/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $684/mt (RMB 4,330/mt) in the Shanghai market, at $632/mt (RMB 4,000/mt) in Tangshan and at $741/mt (RMB 4,690/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 $671/mt (RMB 4,250/mt), $638/mt (RMB 4,040/mt) and $730/mt (RMB 4,620/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 of the semi-finished steel product in the Chinese domestic market have risen slightly week on week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,590/mt ($567/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,610/mt ($570/mt), while the price of 20MnSi billet is at around RMB 3,710/mt ($586/mt). The prices are all ex-mill, including 17 percent VAT. 

The local Chinese steel section market moved up slightly at the beginning of the past week amid the increases seen in domestic billet prices and in rebar futures prices around the same time. However, as trading activity for steel sections remained slack, prices softened again in the latter part of the week. Cold and snowy weather conditions in China have also limited demand, which is unlikely to improve. As for the coming week, it is thought that domestic steel section prices will just indicate small fluctuations.

$1 = RMB 6.33