The Chinese domestic steel section market has moved on a decreasing trend during the past week.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $482/mt. The same product is sold at $426/mt in the Tangshan market and at $498/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $471/mt in the Shanghai market, at $429/mt in Tangshan and at $529/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 $479/mt, $445/mt and $521/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 followed a soft trend in the past seven days. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,360/mt ($381/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,390/mt ($386/mt), while the price of 20MnSi billet is at around RMB 2,480/mt ($401/mt). The prices are all ex-mill, including 17 percent VAT.
The decrease margins recorded by prices in the Chinese domestic steel section market in the past week have been relatively large, caused by the ongoing sluggishness of trading activity and the softness of billet prices. Mills have reduced their steel section quotations, leading traders to reduce their prices as well. As for next week, it is believed that the Chinese steel section market may continue its weak trend, though price decreases are likely to be smaller due to the significant declines already recorded.
$1 = RMB 6.19