China's domestic steel section prices have softened slightly in the past seven days.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $574/mt. The same product is sold at $529/mt in the Tangshan market and at $566/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $571/mt in the Shanghai market, at $532/mt in Tangshan and at $610/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 $589/mt, $558/mt and $595/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 market have trended up slightly during the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,970/mt ($483/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,000/mt ($489/mt), while the price of 20MnSi billet is around RMB 3,090/mt ($504/mt). The prices are all ex-mill, including 17 percent VAT.
At the year draws to a close, the trading volume in the Chinese domestic steel section market has continued to slacken, while supply volumes have started to increase. Billet prices are fluctuating at around RMB 3,000/mt, and so it is considered that there is still room for domestic mills to reduce their steel section prices. The decreases in the past week have mostly been witnessed in central China, with prices more stable elsewhere. It is thought that domestic steel section prices in China may not change much in the coming week, but may move on a downward trend subsequently..