The Chinese domestic steel section market has continued its slight downward 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 $548/mt. The same product is sold at $498/mt in the Tangshan market and at $568/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $522/mt in the Shanghai market, at $502/mt in Tangshan and at $579/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, $519/mt and $592/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 indicated minor upticks during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,800/mt ($458/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,830/mt ($463/mt), while the price of 20MnSi billet is at around RMB 2,920/mt ($477/mt). The prices are all ex-mill, including 17 percent VAT.
In the Chinese domestic steel section market, in the past week the downticks in the east and north of the country have been somewhat larger than elsewhere in the country. However, a slowdown has been observed in the declining movement of the domestic market, though sentiment among traders is still negative due to the sluggishness of demand. Given the increases seen in billet prices, it is thought that China's domestic steel section market will mostly indicate a stable trend in the coming week, but with some slight decreases still possible.