More mills announce flat product price hikes

SteelOrbis Shanghai After the announcement of Baosteel's third quarter prices, other leading domestic steelmakers also adjusted their prices for HR and CR. For details, please see the following: Baotou Steel hiked its hot and cold rolled coil prices by RMB 100/mt ($12) on May 23. The new ex-factory price of 5.5 mm Q235 HRC is RMB 4,050/mt ($505), and that of 1.0 mm SPCC CRC is RMB 5,200/mt ($648). Handan Steel announced its HRC order prices for June. The ex-factory price of HRC increased RMB 250/mt ($31). The new ex-factory price of 3.0 mm Q235 is RMB 4,280/mt ($534), and that of 3.5 mm is RMB 4,150/mt ($517). On May 25, Tangshan Steel disclosed its June price list for HR and CR products, lifting its prices for all HR specifications by RMB 150/mt ($31). The new ex-factory price of 2.75 mm Q235 is RMB 4,200/mt ($524), while that of 5.5 mm is RMB 4,050/mt ($505). VAT is excluded from the prices and the prices are effective from their announcement dates. Wuhan Steel and Lianyuan Steel may also disclose their new price lists soon. Current market price level for 5.5 mm HRC is around RMB 4,050-4,150/mt ($505-517). The new ex-factory prices are expected to support the market prices.