China: Baosteel Hikes Flat Steel Price for July Shipments

China’s major steelmaker – Baosteel has increased HRC prices for July by USD 16/MT (Yuan 100/MT).

China Baowu Steel Group Corporation (Baowu Group), established through the consolidation and restructuring of former Baosteel Group Corporation and Wuhan Iron & Steel (Group) Corporation. The company stood 2nd in the list of world’s top steel producers with tonnage of 65.39 MnT in CY17, up 2.5% Y-o-Y.

Baosteel has raised Hot rolled coil prices for the month of July by Yuan 100/MT (USD 16/MT) after keeping it unchanged in last two months.

The effective rates for HRC (SS400 5.5mm*1500*C) are heard to be at RMB 5,478/MT (USD 855/MT).

Meanwhile Q235 plates A14-20mm medium plate up by RMB 50/MT (USD 8/MT) is priced at RMB 4,855/MT (USD 758/MT).

Also effective prices of CRC (1.0mm, SPCC) is at RMB 5,499/MT (USD 858/MT).

All prices mentioned above are inclusive of taxes.

Wuhan Iron and Steel Co, now part of China Baowu Steel Group Co, has also raised beam products prices by RMB 150/MT ( USD 23) and steel wire by RMB 43/MT (USD 7) for July delivery.

Previously the company had raised flat steel prices in the month of April by USD 8/MT (Yuan 51/MT).

China’s domestic HRC prices rebound over volatile futures-Domestic prices in China witness rebound in the the month of June amid volatility in futures market.China’s domestic HRC prices in the beginning of the months stood at RMB 4,280-4,300/MT (Eastern China).After this, prices started showing downtrend and then retreated by mid month and stood at similar levels.