Chinese steel giant, Baosteel has raised its flat products prices by RMB 100/MT for September deliveries.
With the positive sentiments in country’s domestic steel market over past one month, the company has decided to raise its flat products prices.
The effective rates for HRC (5.5mm, SS400) are heard to be at RMB 3,562/MT and 3mm HRC is at RMB 3,162/MT.
CRC (1.0mm, SPCC) is at RMB 3,996/MT. Whereas HDG coil (1.0mm, Hot dip galvanized coil) is at RMB 4,677/MT. All prices are on ex-works basis excluding VAT.
Baostel’s price policy usually sets the tone for country’s rest of the steel market.
As a part of supply-side reform, government plans to cut 9.2 MnT in time span of two year from 2016-18.
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