Shanghai-listed Baosteel said Sept. 10 it would raise the prices of most flat steel products, including hot-rolled coil, for October delivery.
Its ex-works prices for hot-rolled coil, plate and section will increase by Yuan 50/mt from September shipment prices.
Prices for commercial cold-rolled coil, pickled steel, hot-dip galvanized coil, electro-galvanized coil, grain-oriented silicon steel and non-grain-oriented silicon steel will increase Yuan 200-310/mt on the month depending on grade.
Baosteel does not announce outright list prices, only its price adjustments. The prices exclude 13% value added tax.
Baosteel Group continues to announce offers separately from Wuhan Iron & Steel Group, despite their December 2016 merger to form China Baowu Steel Group.
On the Shanghai Futures Exchange, the most HRC active contract, January 2021, closed at Yuan 3,779/mt on Sept. 11, up Yuan 47 or 1.3% on the day.
-- Analyst Yuelin Dai
Source : Steel Business Briefing
