Ansteel Iron & Steel group (Ansteel), the country’s second-largest steel producer headquartered in Northeast China’s Liaoning province, has decided to lift its list price of flat steel by Yuan 300/tonne ($43.7/t) for April sales, Mysteel Global learned.
With the new pricing policy, Ansteel will lift its Q235B 3.5-15.99mm HRC and 1.0mm cold-rolled coil for April delivery by Yuan 300/t on month. As usual, Ansteel doesn’t reveal the actual list prices in its monthly pricing policy, but only the margin of price adjustment, Mysteel Global understands.
Ansteel’s price decision was similar to that of Baoshan Iron & Steel, the listed arm of China’s largest steelmaker Baowu Steel Group, which had chosen to lift its HRC list prices by Yuan 200/t for April sales.
Ansteel seems to keep tracking the strengthening price trend of hot coils, a Shanghai-based analyst said. Mysteel’s latest survey assessed China’s national price of Q235 4.75mm HRC at Yuan 4,483/t including the 13% VAT as of March 13, or up by 269/t on month.
The continuous decline in HRC stocks at commercial warehouses gave a boost to the market sentiment. The HRC stocks at the 194 warehouses in 55 Chinese cities under Mysteel’s tracking lost 10.5% on month to 4 million tonnes as of March 9.
Besides, high production costs also lent some support to HRC prices. As of March 13, Mysteel’s SEADEX 62% Australian Fines was assessed at Yuan $132.45/dmt CFR Qingdao, up by $11.15/dmt CFR Qingdao on month.
Written by Villanelle Xia, xiayi@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
Note: This article has been written in accordance with an article exchange agreement between Mysteel Global and SteelMint.
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