Chinese domestic steel section prices have moved on a weak trend 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 $567/mt. The same product is sold at $540/mt in the Tangshan market and at $583/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $569/mt in the Shanghai market, at $545/mt in Tangshan and at $605/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 $592/mt, $558/mt and $608/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 declined in the past week. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 3,040/mt ($497/mt), the price of 165 x 225 mm rectangular billet stands at RMB 3,070/mt ($502mt), while the price of 20MnSi billet is at around RMB 3,160/mt ($519mt). The prices are all ex-mill, including 17 percent VAT.
In the Chinese domestic steel section market, in the past week prices indicated a decline while the trading volume increased. Ahead of China’s National Day holiday (October 1-7), Chinese traders have reduced their steel section prices in order to increase sales and bring in more cash. Meanwhile, domestic billet prices have fluctuated in a downward direction, creating more space for further decreases in the steel section market. Accordingly, in the coming week Chinese domestic steel section prices are expected to maintain their downward movement.
$1 = RMB 6.12