The Chinese domestic steel section market has indicated significant downticks in prices during the past two weeks.
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $513/mt. The same product is sold at $435/mt in the Tangshan market and at $515/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $497/mt in the Shanghai market, at $447/mt in Tangshan and at $537/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 $506/mt, $468/mt and $531/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 continued their downward trend in the past two weeks. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,450/mt ($399/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,480/mt ($404/mt), while the price of 20MnSi billet is at around RMB 2,570/mt ($419/mt). The prices are all ex-mill, including 17 percent VAT.
In the past two weeks, the Chinese domestic section market has seen relatively large price decreases influenced by declines in billet prices and reductions in steel section producers' quotations, while the overall trading volume is quite weak and is unlikely to improve as long as prices continue to soften. It is believed that the downward trend in the market will likely continue in the coming week but price declines may be smaller as prices are considered to be at low levels following the decreases already seen in the market.
$1 = RMB 6.14