Major mills in China like Baosteel and Wuhan Steel have raised their flat steel prices for next month amid strong domestic demand and production cut announced by Chinese government.
Baosteel has raised the HRC prices by RMB 120/MT,HR plates by 100/MT,CRC and HDG (Hot Dip Galvanized) coil prices by RMB 80/MT for January deliveries.
Company has planned to raise the flat steel prices after keeping it unaltered since last two consecutive months.
The effective rates for HRC ( Q235 5.5mm, ) are heard to be at RMB 4,992/MT (USD 756/MT),Q235 plates is at RMB 4,000/MT(USD 606/MT),CRC (1.0mm, SPCC) is at RMB 5,116/MT (USD 774/MT).Whereas HDG coil (1.0mm,DX51D+Z) is at RMB 5,847/MT (USD 885/MT). All prices are on ex-works basis excluding VAT.
Wuhan Steel also hiked flat steel prices-Wuhan steel has also increased the prices of HRC prices by RMB 170/MT,CRC by RMB 80/MT and HDG (Hot Dip Galvanized) coil prices by RMB 170/MT for January deliveries.
The effective rates of Wuhan steel for HRC (Q235 5.5mm) are heard to be at RMB 5.000/MT (USD 757/MT),CRC (1.0mm, SPCC) is at RMB 5,900/MT (USD 893/MT). Whereas HDG coil (1.0mm,DX51D+Z) is at RMB 7,440/MT (USD 1,126/MT). All prices are on ex-works basis excluding VAT.
Major mills in China have increased the flat steel prices owing to strong domestic demand and supply constraints amid production cut happening in China.This demand supply mismatch has compelled the major Chinese steelmakers to raise the prices of steel products in domestic market.
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