Chinese steel giant, Baosteel has unveiled its flat products prices for November deliveries. The company has kept HRC and HR plates prices unchanged for November whereas, CRC and HDG (Hot Dip Galvanized) coil prices have been raised by RMB 100/MT (USD 15/MT).
The effective rates for HRC (5.5mm, SS400) are heard to be at RMB 3,662/MT (USD 545/MT) and 3mm HRC is at RMB 3,712/MT (USD 552/MT).
CRC (1.0mm, SPCC) is at RMB 4,246/MT (USD 632/MT). Whereas HDG coil (1.0mm, HDG coil) is at RMB 5,037/MT (USD 749/MT). All prices are on ex-works basis excluding VAT.
Currently, the market sentiments in Chinese steel market are quite vague. Subdued domestic demand in the country is pulling down steel prices there whereas, higher raw material (coking coal) costs is making it difficult for the steel manufacturers to lower down their prices after certain level. Baosteel’s price policy usually sets the tone for country’s steel market.
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