Major Chinese steelmaker Baosteel has made adjustments to its carbon steel flat product prices for July deliveries, generally reducing its prices. The price changes are as follows (comparisons are with June prices):
1. Hot rolled coil (HRC) - produced by Baosteel's main steel production base and by its stainless steel division: Prices are down by RMB 200/mt ($30/mt).
2. Hot rolled pickled products:
I) Products produced by the main steel production base have been reduced in price by RMB 100/mt ($15/mt).
II) Products from the stainless steel division are RMB 50/mt ($7/mt) lower than prices of products from the main steel production base.
3. Cold rolled (CR) products:
I) Products from the main steel base are down by RMB 100/mt ($15/mt).
II) Products from the stainless steel division are RMB 100/mt ($15/mt) lower than prices of products from Baosteel's main steel base.
III) Products from Baosteel Group Shanghai Meishan Co. are RMB 200/mt ($30/mt) lower than prices of products from the main steel production base.
4. Hot dip galvanized (HDG):
I) Main steel base product prices are down by RMB 200/mt ($30/mt).
II) Products from Baosteel Group Shanghai Meishan Co. are unchanged.
III) Product prices from the stainless steel division are RMB 100/mt ($15/mt) lower than product prices from the main steel base.
5. Electro-galvanized (EG) products: prices are down by RMB 100/mt ($15/mt).
6. Galvalume:
I) Main steel base product prices are unchanged.
II) Prices of products from Baosteel Group Shanghai Meishan Co. are RMB 50/mt ($7/mt) lower than main steel base products.
7. Color coated (May-June): all prices are unchanged.
8. Non-grain-oriented (NGO) electrical steel:
I) Prices of high grade steel and B35 series are unchanged.
II) Prices of B50AR, B50AH600, B50AH470, B50AH350, B50A470 and B50A540 series are down by RMB 200/mt ($30/mt).
III) B65A600 and lower grades, B50AH800 and lower grades, B50A600 and lower grades have been reduced in price by RMB 500/mt ($76/mt).
9. Grain-oriented electrical steel prices are unchanged.
10. Hot rolled plate (HRP) prices are unchanged.
All the above price changes are effective from June 10, 2011 and exclude 17 percent VAT
$1 = RMB 6.50