Baoshan Iron & Steel Co (Baosteel), a subsidiary of China's largest steel producer China Baowu Steel Group, announced that it will increase its carbon steel hot rolled coil (HRC) prices by 100 Yuan/ton ($13.7/ton). It is stated that this decision reflects increasing demand and the need to replenish stocks. In addition, steel production is expected to decrease due to maintenance outages next month, which may provide some support to steel prices by affecting the supply and demand balance.
China's Q235 4.75 mm hot rolled coil price was recorded as 3974 Yuan/ton as of November 10, the highest level in the last 1.5 months. This figure represents a large monthly increase of 120 Yuan/ton.
Baosteel will also increase the prices of pickled and oiled coils and cold rolled coils by up to 100 Yuan/ton for December sales. In addition, the list prices for carbon steel plate and color coated coils will be increased by 50 Yuan/t, while the list prices of non-granular electrical steel will be increased by 50 Yuan/t for certain specifications.
Comments
No comment yet.