The company had raised its flat products prices by RMB 100/MT (USD 15/MT) last month for September deliveries amid positive market sentiments.
Although in the first two month of September month, steel prices in China have dropped amid domestic market weakness, Baosteel’s decision to increase flat steel prices for October deliveries signals positive outlook for both demand and prices in the upcoming month.
The HRC prices have been raised by RMB 100/MT (USD 15/MT). Whereas CRC prices are up by RMB 150/MT (USD 22/MT).
The effective rates for HRC (5.5mm, SS400) are heard to be at RMB 3,662/MT (USD 548/MT) and 3mm HRC is at RMB 3,712/MT (USD 556/MT). CRC (1.0mm, SPCC) is at RMB 4,146/MT (USD 621/MT). Whereas HDG coil (1.0mm, Hot dip galvanized coil) is at RMB 4,937/MT (USD 739/MT). All prices are on ex-works basis excluding VAT.
Baostel’s price policy usually sets the tone for country’s rest of the steel market. The company expects China’s apparent crude steel consumption to drop 680 MnT in current year from 698 MnT in 2015.
Leave a Reply