China;steel giant Baosteel has announced its flat product prices for February deliveries.The company has raised the flat steel prices significantly by RMB 120-280 yuan which is equivalent to USD 17-40/MT.
The rates of HRC (5.5mm, SS400) have been increased by RMB 120 equivalent to USD 17/MT,while prices of CRC (1.0mm, SPCC) in the range of RMB 150/MT (USD 22/MT),whereas prices of HDG have surged by RMB 150-280/MT (USD 22-40/MT).
Therefore effective rates of HRC Q235 5.5mm to RMB 4,822/MT (USD 696/MT),while CRC SPCC 1.0mm is hovering in the range of RMB 5,516 (USD 796/MT). Whereas 1.0mm HDG is assessed in the range of RMB 6,077-6,207/MT equivalent to (USD 877-895/MT).All prices are on Ex-work basis excluding VAT.
However Q235,14-20mm plate remained at RMB 3,500 equivalent to (USD 505). Prices are on Ex-work basis excluding VAT.
China’s Wuhan and Iron Steel lowered the prices by USD 14-36/MT for most of the mainstream flat products for Feb deliveries while China’s Hesteel kept its prices stable.
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