The Chinese domestic steel section market has seen relatively large decreases in prices in the past two weeks.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $432/mt. The same product is sold at $366/mt in the Tangshan market and at $471/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $421/mt in the Shanghai market, at $368/mt in Tangshan and at $479/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 $416/mt, $369/mt and $468/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 recently been moving on a downward trend. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 1,960/mt ($315/mt), the price of 165 x 225 mm rectangular billet stands at RMB 1,990/mt ($320/mt), while the price of 20MnSi billet is at around RMB 2,080/mt ($334/mt). The prices are all ex-mill, including 17 percent VAT.
Overall trading activity in the Chinese domestic steel section market has remained slack, while the decreases in prices have mainly been due to the softness of billet prices. Confidence among traders is low and they are trying to attract business by reducing their quotations. It is thought that the local Chinese steel section market may be characterized by a slight declining trend in the week ahead.