The world’s largest steel producer – Baosteel has announced a price hike of RMB 300-350/t ($47-55) m-o-m for its various steel products for Mar’22 bookings. HRC, sheet & heavy plate prices have risen by RMB 350/t ($55/t) while those of CRC and hot dipped galvanized have increased by RMB 300/t ($47/t). Global price upsurge and higher raw material prices have pushed up domestic offers.
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