Baosteel is one of the major iron and steel company with the highest level of modernization in China.Baosteel is in the top position in the domestic industry and among the leading global iron and steel enterprises. It ranks 5th in terms of world’ top steel producing companies with crude steel production of 34.94 MnT in CY15.
China’s major steel giant Baosteel has announced its flat product prices and has witnessed the sharp decline in flat product prices for June shipments owing to bearish sentiments spread in China’s domestic market.
The company has significantly cut the prices of HRC by RMB 100-180/MT which is equivalent to USD 14-26/MT. However,effective rates of HRC Q235 5.5mm are assessed to RMB 4,422-4,522/MT equivalent to USD 640-655/MT.Prices are on Ex-work basis excluding VAT.
Notably,Baosteel has also slashed the CRC SPCC 1.0mm by RMB 200/MT equivalent to USD 22/MT and are hovering in the range of RMB 5,446 (USD 789/MT). All prices are on Ex-work basis excluding VAT.
Whereas prices of 1.0mm HDG moved down by RMB 150-260/MT which is equal to (USD 22-38/MT) and are assessed in the range of RMB 5,827-6,027/MT equivalent to (USD 844-873/MT). All prices are on Ex-work basis excluding VAT.
However,Q235,14-20mm plate prices have also come down by RMB 200/MT,(USD 29/MT) and are heard in the range of RMB 3,100/MT equivalent to (USD 449/MT). Prices are on Ex-work basis excluding VAT.
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