China: Baosteel Keep its Steel Prices Stable for Nov Shipments

China’s major steel-maker Baosteel announced a roll-over in its steel prices today for Nov deliveries.

Hence, the company’s effective prices for HRC (SS400 5.5mm*1500*C) stood at RMB 4,872.56/MT (USD 684/MT) for Nov deliveries. All prices mentioned above are inclusive of taxes.

Meanwhile, the company has also kept its CRC, heavy plates, galvanized and colour coated prices unchanged for Nov deliveries.

Prior this, last month the company had slashed its steel prices by RMB 100/MT for October deliveries.

China’s domestic HRC prices drop over volatile futures- Nation’s domestic HRC prices in the Tangshan region stood at RMB 3,610-3,620/MT in the second week of Oct ‘19 which was RMB 3,690-3,710/MT in the second week of Sep’19.

Domestic HRC prices showed a downturn over volatile futures and low buying activities over Golden week holidays.