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Leading steel company Baosteel kept its prices stable for February

Baosteel, a major subsidiary of China's state-owned Baowu Steel Group, has kept its domestic floor prices for major steel products stable for February 2024 orders.

Leading steel company Baosteel kept its prices stable for February

These steel products include hot rolled coil and sheet, heavy plate, cold rolled coil and sheet, drawn steel and hot dipped galvanized coil. Baosteel's pricing decisions are generally considered a pioneer for the industry.

Following the price increase in December, the company further increased the prices of January reservations. This move, which maintains February price levels, shows that the company is being more cautious about its sales outlook in the near term.

Baosteel's heavy plates are mainly used in shipbuilding, offshore platform, boiler, pressure vessel, pipeline, high-rise buildings, bridges and heavy-duty trucks, etc. is used. Hot rolled steel products are widely used in ships, automobiles, bridges, buildings and machinery.

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