Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, has announced a hike in its domestic sales list prices for carbon steel hot-rolled coil (HRC) for Sep ’20 deliveries.
- HRC price raised by RMB 200/t ($29)
- CRC prices raised by RMB 260/t ($37)
- Heavy plate prices increased by RMB 200/t ($29)
- Hot Dipped Galvanized steel prices up by RMB 260/t ($37)
Colour coated prices up by RMB 400/t ($58) another 50 yuan/t ($7) increase in Qingshan base;
The prices of the Baoshan works in East China’s Shanghai, the Meishan mill in East China’s Jiangsu, its Qingshan plant in central China’s Hubei, and the Dongshan works in South China’s Guangdong province. Heavy plate prices were increased for the Baoshan, and the Dongshan works in South China’s Guangdong province.
~The above prices take effect from the date of its publication and the final explanation right to this price adjustment notice belongs to the Marketing Department of Baoshan Iron and Steel Co., Ltd.
In the previous month, the manufacturer had announced a price hike of RMB 100/t for HRC, heavy plate, and for HDG for Aug ’20 deliveries.
Meanwhile, domestic HRC prices surged by around RMB 80/t w-o-w and were in the range of RMB 4,050-4,070/t (eastern China). Robust buying and strong futures resulted in a significant hike by major steel mills in China. Market sentiments remained strong on the estimated increase in auto and excavator sales in Jul’20, and an encouraging trend in infrastructure & construction sector.
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