Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in December this year, having previously kept its prices stable over a long period.
The producer has decided to cut its local base prices for hot rolled coil (HRC) by RMB 300/mt ($46.8/mt), and to cut its prices for acid pickling plate, cold rolled coil (CRC), hot dip galvanized (HDG) and non-oriented silicon steel by the same amount. Prices for steel plate and electro-galvanized products have been cut by RMB 200/mt ($31.2/mt)
The steelmaker has raised prices for oriented silicon steel by RMB 300/mt ($46.8/mt) for December.
$1 = RMB 6.4145