Tuesday, July 12,
Baosteel, one of the largest steel making company in China has decided to keep its hot rolled coil prices unchanged for August. While, it announced a price hike of 50 yuan for the cold rolled coils and hot-dipped galvanized coil. Baosteel continues to offer its benchmark product of commercial-grade hot rolled coil 5.5mm thick at 5,255 yuan per tonne, including 17% VAT.
Prices of 1.0mm cold rolled coil also advanced by 10-20 yuan to 5,300-5,320 yuan per tonne.
According to traders, “Baosteel’s price announcement could boost the market sentiments in the short term but a sustainable price rise will need a real demand recovery too”
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