Major producers of round steel billet in eastern China have raised their list prices for Dec. 1-10 sales.
Zenith Steel Group and Changqiang Iron & Steel – major producers in Jiangsu province – raised prices for No. 20 50-130 mm rounds by Yuan 50/mt ($8/mt) to Yuan 4,600/mt and Yuan 4,550/mt, ex-works, including 13% VAT, respectively, according to market sources.
Huaigang Special Steel, another major supplier of round billet based in Jiangsu, raised its price for semi-finished products by Yuan 50/mt to Yuan 4,620/mt for Dec. 1-10 sales, ex-works, including VAT.
These mills previously raised list prices by Yuan 290-300/mt in November, amid a round of price hikes seen in the broader Chinese steel market.
-- Analyst Yuelin Dai