Major Chinese steelmaker Baosteel has made adjustments to its carbon steel flat product prices for October deliveries, generally rising its prices. The price changes are as follows (comparisons are with September prices):
1. Hot rolled coil (HRC) - produced by Baosteel's main steel production base and by its stainless steel division:
Structural steel prices have risen by RMB 60/mt ($9/mt).
2. Hot rolled pickled products:
1) Products produced by Baosteel's main steel production base have increased in price by RMB 50/mt ($7/mt).
2) Products from Baosteel's stainless steel division are RMB 50/mt ($7/mt) lower than prices of products from the main steel base.
3. Cold rolled (CR) products:
1) Prices of products from the main steel base are up by RMB 50/mt ($7/mt).
DQ grade and DDQ grade products have increased by an additional RMB 30/mt ($4/mt), while EDDQ grade and SEDDQ grade products have increased by an additional RMB 50/mt ($7/mt) - compared to the new adjusted price.
2) Stainless steel division products are RMB 100/mt ($15/mt) lower than prices of products from Baosteel's main steel base.
3) Products from Baosteel Group Shanghai Meishan Co. are RMB 200/mt ($31/mt) lower than prices of products from the main steel base.
4. Hot dip galvanized (HDG):
1) Product produced by the main steel production base:
CQ grade and S series structural steel and pickled hot rolled HDG are up by RMB 50/mt ($7/mt), while prices of all other products are up by RMB 200/mt ($31/mt).
Zinc-Fe alloy products are RMB 200/mt ($31/mt) higher than prices of zinc products.
2) Prices of products from Baosteel Group Shanghai Meishan Co. are unchanged.
5. Electro-galvanized (EG) products:
While prices of CQ grade and DQ grade products are up by RMB 50/mt ($7/mt), prices of all other products are up by RMB 150/mt ($23/mt).
6. Galvalume:
1) Prices of products from Baosteel's main steel base are up by RMB 100/mt ($15/mt).
2) Prices of products from Baosteel Group Shanghai Meishan Co. are RMB 50/mt ($7/mt) less than prices of products from the main steel base.
7. Non-grain-oriented (NGO) electrical steel: prices are unchanged.
8. Grain-oriented electrical steel: prices are down by RMB 500/mt ($78/mt).
9. Hot rolled plate (HRP) prices are unchanged.
All the above price changes are effective from September 13, 2011, and exclude 17 percent VAT
$1 = RMB 6.38