China’s major steelmaker Baosteel revised its steel prices today for July deliveries. The company has reduced its HRC prices by RMB 100/MT (USD 14/MT) in its Baoshan, Meishan and Dongshan base for July deliveries.
Thus company’s effective prices for HRC (SS400 5.5mm*1500*C) were hovering at RMB 4,759.56/MT (USD 688/MT). Prices mentioned above are inclusive of taxes.
Meanwhile prices for CRC (SPCC 1.0mm *1250*C) stood at RMB 5,577.68/MT (USD 806.36/MT). Prices mentioned above are inclusive of taxes.
Further, the company also decline prices of color coated steel by RMB 100/MT in its Baoshan and Qingshan base for July deliveries.
Although the company’s HDGI and HR plate prices remain unchanged for July deliveries.
Prior this, last month Baosteel rolled over its steel prices for June deliveries.
Chinese HRC prices in domestic market- In the mid of the June’19 domestic HRC prices is hovering around RMB 3,810-3,830/MT (eastern China) which was RMB 3,970-3,980/MT (eastern China) in mid of May’19.
Domestic HRC prices in China showed continual decline owing to volatile futures, higher inventory levels and weaker downstream demand among end users in China.
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