Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in January. The details are as follows (comparisons are with December delivery prices):
1. Hot rolled coil (HRC):
Prices of products from Baosteel's main steel production base have remained unchanged.
For bookings concluded on or before December 18, there will be a discount of RMB 150/mt ($24/mt), while there will be a RMB 100/mt ($16/mt) discount for bookings concluded on or before December 22.
2. Hot rolled pickled products:
a) Prices of hot rolled pickled products from Baosteel's main steel base have decreased by RMB 150/mt ($24/mt).
b) Prices of hot rolled pickled products from Baosteel's Shanghai-based subsidiary Meishan Steel have declined by RMB 50/mt ($8/mt).
For bookings concluded on or before December 18 there will be a RMB 150/mt ($24/mt) discount, while there will be a RMB 30/mt ($4/mt) discount for bookings concluded on or before December 22.
3. Cold rolled (CR) products:
a) Baosteel's main steel base
a.i) Prices of common quality (CQ) steel and non-auto cold rolled products have remained stable, while prices of other products have decreased by RMB 100/mt ($16/mt).
a.ii) Prices of SPCC-YT products may have a discount of RMB 50/mt ($8/mt) if the order volume is large.
b) Baosteel's Shanghai-based subsidiary Meishan Steel
Cold rolled products from Meishan Steel are RMB 100/mt ($16/mt) lower than prices of products from the main steel base.
c) Ultra-high strength steel
Prices of ultra-high strength steel in the first quarter of 2015 will be RMB 300/mt ($48/mt) lower than prices in the fourth quarter of 2014.
d) For bookings concluded on or before December 17 there will be a RMB 150/mt ($24/mt) discount, while there will be a discount of RMB 50/mt ($8/mt) for bookings concluded on or before December 22.
4. Hot dip galvanized (HDG):
a) Prices of hot dip galvanized products from the main steel base have decreased by RMB 100/mt ($16/mt), while there is a discount of RMB 150/mt ($24/mt) for bookings concluded on or before December 18.
b) Prices of hot dip galvanized products from Meishan Steel are unchanged.
5. Electro-galvanized (EG) products:
a) Prices of common quality (CQ) EG products have remained unchanged, while prices of other EG products have declined by RMB 200/mt ($32/mt).
b) Prices of ultra-high strength steel in the first quarter of 2015 have decreased by RMB 200/mt ($32/mt) compared to prices in the fourth quarter of 2014.
c) For bookings of common quality (CQ) EG concluded on or before December 12 there is a discount of RMB 100/mt ($16/mt), while there will be a RMB 60/mt ($9.8/mt) discount for non-common quality EG. For bookings of common quality (CQ) EG concluded on or before December 22 there will be a discount of RMB 50/mt ($8/mt), while there will be a RMB 30/mt ($4/mt) discount for non-common quality EG.
6. Galvalume:
a) Prices of galvalume from both Baosteel's main steel base and Meishan Steel have decreased by RMB 120/mt ($19/mt).
b) For bookings concluded on or before December 19 there will be a discount of RMB 150/mt ($24/mt).
7. Non-grain-oriented (NGO) electrical steel prices:
a) Prices have remained unchanged.
b) For bookings concluded on or before December 15 there is a discount of RMB 150/mt ($24/mt).
8. Grain-oriented (GO) electrical steel prices:
Prices of grain-oriented electrical steel have increased by RMB 1,600/mt ($260/mt).
All the above price changes are effective immediately and exclude 17 percent VAT.
$1 = RMB 6.14