China’s Baoshan Iron & Steel , the country’s biggest listed steelmaker, said on Monday it will raise the February booking prices for its main steel products, reflecting rising raw materials costs and a firmer outlook for steel demand.
Baosteel’s pricing decisions usually set the direction for the rest of the market, and the increase is likely to encourage other large mills to follow.
All steel item prices rose as below:
HRC – 200 CNY
CRC -200 CNY
Pickled Plate -150 CNY
Hot Galvanized Sheet-220 CNY
Electric Galvanized Sheet- 200 CNY
Color Coated Sheet- 260 CNY
Plain Plate- 100 CNY
Silicon Steel- 300 CNY
Market experts highlight that this will prompt other steel manufacturers across the world to raise their offers.
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