On April 10, major Chinese steelmaker Baosteel issued its prices for carbon steel flat products for delivery in May.
The producer has decided to keep its local base prices for steel plate, sections and grain-oriented electrical steel stable for May. At the same time, it has cut its local base prices for hot rolled coil (HRC), hot rolled pickled products and non-grain-oriented steel by RMB 100/mt ($14/mt). The decision was made due to lower average iron ore and imported coking coal prices in April compared to March. Moreover, the lower HRC prices are aimed at attracting more customers. Demand from local users has been firm recently, according to sources.
Moreover, Baosteel has decreased its local base prices for cold rolled coil (CRC), hot dip galvanized (HDG), electro-galvanized products and galvalume by RMB 150/mt ($21/mt) for May, and has reduced its local base prices for pre-painted galvanized iron (PPGI) by RMB 200/mt ($28/mt) for May, SteelOrbis has learned.
$1 = RMB 7.03
