Section steel prices have remained unchanged in eastern and southern China during the week ending August 31, while in the northern region prices have indicated slight upticks due to the increases in semi-finished prices.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at RMB 4,250/mt ($627/mt). The same product is sold at RMB 4,160/mt ($614/mt) in the Tangshan market and at RMB 4,220/mt ($622/mt) in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 m steel channels stand at RMB 4,200/mt ($619/mt) in the Shanghai market, at RMB 4,180/mt ($617/mt) in Tangshan and at RMB 4,400/mt ($649/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 RMB 4,250/mt ($627/mt), RMB 4,350/mt ($642/mt) and RMB 4,250/mt ($627/mt). The prices are all ex-mill, including 17 percent VAT.
During the week in question, in the Tangshan market the price of common carbon billets of 150 mm x 150 mm size has risen to RMB 3,860/mt ($567/mt), while the low alloy billet price has also climbed up to RMB 3,980/mt ($584/mt). Both prices include 17 percent VAT. The uptrend seen in Tangshan's billet market has been triggered by the rising trend of raw materials. Major steel producers have not yet released new price policies and are just watching the trend of the market for the time being.
Meanwhile, in the eastern and southern regions, market activity has been so weak that any increases in section steel prices would not be accepted by the market.