Baosteel hikes HR prices

SteelOrbis Shanghai Following the price increase on cold rolled, galvanized and pre-painted products last week, Baosteel also increased its hot rolled product prices today. Based on the second quarter price list, Baosteel raised its hot rolled sheet and coil prices for May production by RMB 250/mt ($31) in average. Meanwhile, 3.01-3.10 mm hot rolled products have been subject to another additional RMB 100/mt ($12) increase in addition to the RMB 250/mt. Now the new ex-factory price of 3.0 mm SS400 is RMB 3,642/mt ($454), that of 3.11-12.5 x 1,301-1,500 mm full hard coil is RMB 3,492/mt ($435). These prices exclude taxes, and they are in effect as of March 23, 2006.