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 $543/mt. The same product is sold at $494/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 $502/mt in Tangshan and at $576/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, $515/mt and $582/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 remains stable 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.
Trading activity in the local Chinese steel section market has remained slack in the past week, while sentiment among traders has been quite negative. In addition, domestic mills have continued to reduce their quoted prices, thereby also contributing to the weak market trend. Market players believe that inventory levels will have to decline or mills will have to start carrying out overhaul work before any change in the current trend is seen. For the coming week, the slightly downward trend in the domestic steel section market is expected to continue.