China’s prominent steel maker Baosteel released its monthly steel prices today. The company announced a hike in its steel prices by around RMB 50-200/MT (USD 7-28) for Jan’20.
The company hikes its HR Coil prices by RMB 200/MT (USD 28/MT) and plain carbon CR coils by RMB 100/MT (USD 14/MT) in its Baoshan base, Qingshan base, Dongshan base, and Meishan base.
However, it increased the HDGI (Baoshan base, Qingshan base, and Dongshan base), and PPGI prices by RMB 50/MT (USD 7/MT) in its Baoshan, and Qingshan base for Jan and Feb’20 deliveries.
In the preceding month, the company has kept its HRC, plain carbon CR coil, and HDGI prices unchanged for Dec deliveries.
Nation’s domestic HRC prices- The nation’s domestic HR Coil prices in the Eastern China region stood at RMB 3,820-3,830/MT at the beginning of Dec’19 in contrast with RMB 3,510-3,520/MT in the beginning of Nov’19.
Improved trades and better margins in the domestic market ahead of the New Year holidays, along with the announced blast furnace operation restrictions until 10 Dec’19 and logistics restraints, continued to show an upward trend in the domestic prices.
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