China: Baosteel cuts HRC prices by $30/t m-o-m for August sales

World’s top steel manufacturer Baosteel has slashed its monthly HRC, CRC and heavy plate prices by RMB 200/t ($30/t) for Aug’22 sales, sources informed SteelMint. Subdued domestic demand amidst seasonal lull besides resurgence in covid-19 infections have resulted in the decline in offers.