China’s steel giant, Baoshan Iron & Steel has announced to keep HRC/CRC prices unchanged for November deliveries. This move by the leading Chinese steelmaker indicates that demand is likely to remain weak in the coming months.
The company’s pricing policy usually reflects the mood of China’s steel industry as a whole. It has also been confirmed that the mill is offering discount of USD 16/MT on HRC/CRC bookings made before 19 Oct’15.
Baosteel has been maintaining flat steel prices at the same level since August. Owing to sluggish demand and steel overcapacity, steel prices in China have been in the doldrums since the beginning of 2015.
Current offers for 2.5 mm HRC is being assessed at USD 275/MT, FoB China and USD 290-295/MT, CNF India from China. 0.9 mm CRC is being offered at USD 320/MT, FoB China.
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