China’s steel giant Baosteel has disclosed its flat product prices for December deliveries.The company has raised its flat products prices significantly by RMB 260-300/MT (USD 38-44/MT) last month for December deliveries amid higher cost of production and improving demand.
The effective rates for HRC (5.5mm, SS400) are heard to be at RMB 4,342/MT (USD 639/MT) and 3mm HR C is at RMB 4,012/MT (USD 589/MT).
CRC (1.0mm, SPCC) is at RMB 5,016/MT (USD 738/MT). Whereas HDG coil (1.0mm, HDG coil) is at RMB 5,577/MT (USD 821/MT). All prices are on ex-works basis excluding VAT.
Meanwhile, Wuhan Iron and steel has also lifted up the prices by RMB 400/MT (USD 59/MT) for HRC and CRC prices up by RMB 450/MT ( USD 66/MT).
Currently Wuhan Steel is offering HRC (5.5mm, SS400) at RMB 3780/MT (USD 556/MT).Whereas CRC (1.0mm, SPCC) at RMB 4670/MT (USD 572/MT).
The market sentiments in China is quite active owing to better realizations of sales in domestic market.Hence, Baosteel and Wuhan Steel are also increasing the flat product prices as the price policy of these companies usually set the tone for the country’s steel market.
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