China’s steel giant Baosteel has raised flat product prices significantly by RMB 350-360/MT (USD 51-52/MT) for Jan’17 deliveries.
The effective rates for HRC (5.5mm, SS400) are at RMB 4,702/MT (USD 681/MT).
CRC (1.0mm, SPCC) is at RMB 5,366/MT (USD 777/MT). Whereas HDG coil (1.0mm, HDG coil) is at RMB 5,927/MT (USD 825/MT). All prices are on ex-works basis excluding VAT.
Spot HRC prices in China rise further
Spot HRC prices in China continued its uptrend today and increased further upto USD 5/MT, D-o-D. Domestic HRC prices in Shanghai (eastern China) is at USD 576-582/MT against yesterday’s closing price of USD 572-578/MT. Prices mentioned are ex-warehouse, inclusive of VAT.
According to recent statistics data released, output & sales of vehicles in China has lifted demand of HRC which lead to increased buying spot market. Following this several steel mills including Baosteel has raised flat products sharply for Jan’17 deliveries.
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