Major Chinese steel producer Baosteel has issued its carbon flat steel prices for August delivery, announcing decreased prices for many products. The details are as follows (comparisons being with July levels):
1. Hot rolled coil: the prices of low carbon, ultra-low carbon steel and common cold forming steel are down by RMB 300/mt ($44.3/mt), while prices for other products remain the same.
2. The prices of pickled products have been reduced by RMB 300/mt ($44.3/mt).
3. Common cold rolled products: the prices of CQ steel and some quality steels are down by RMB 300/mt ($44.3/mt), while prices of other products remain unchanged.
4. HDG
1) Prices of CQ steel, S series structural steel and hot rolled pickled galvanized are down by RMB 300/mt ($44.3/mt), while the prices of other products remain unchanged.
2) The prices of zinc-iron alloy products are up by RMB 100/mt ($14.78/mt).
5. Electric galvanized: the price of CQ grade is down by RMB 300/mt ($44.3/mt), with prices of other products unchanged.
6. Galvalume:
1) The prices of thicknesses below 1.3 mm have decreased by RMB 300/mt ($44.3/mt), while prices of thicknesses above or equal to 1.3 mm are down by RMB 200/mt ($29.54/mt);
2) The galvalume prices of Baosteel Group Shanghai Meishan Co., Ltd are RMB 200/mt ($29.54/mt) lower than the prices of these products from other Baosteel facilities.
7. Electrical steel
1) Non-grain-oriented electrical steel: the price of B35 series is down by RMB 300/mt ($44.3/mt); prices of B50 series, B50A400 and higher categories are down by RMB 300/mt ($44.3/mt), the price of B50A470-800 is down by RMB 400/mt ($59.08/mt), and B50A1000-1300 prices are down by RMB 500/mt ($73.86/mt); prices of high quality series are all down by RMB 300/mt ($44.3/mt); prices of B65 series, B65A470 and higher categories are down by RMB 300/mt ($44.3/mt), with price adjustments for other categories the same as for the B50 series.
2) Grain-oriented electrical steel: all prices are down by RMB 800/mt ($118.17/mt) based on the B30G120 price.
8. All heavy plate prices are down by RMB 500/mt ($73.86/mt).
All the above prices are effective from July 13.
US$1 = RMB 6.77