Major Chinese steelmaker Baosteel has made adjustments to its carbon steel flat product prices for June deliveries, generally reducing its prices.
The price changes are as follows (comparisons are with May prices):
1. Hot rolled coil (HRC) - produced by Baosteel's main steel production base and by its stainless steel division: Prices are unchanged.
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 base.
3. Cold rolled (CR) products:
I) Main steel base product prices are unchanged.
II) Prices of 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 base.
4. Hot dip galvanized (HDG):
I) Main steel base product prices are unchanged.
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 unchanged.
6. Galvalume:
I) Main steel base products: prices of 1.3 mm thick plate or plates thicker than 1.3 mm are down by RMB 150/mt ($23/mt), while prices of plates of other thicknesses remain unchanged
II) Baosteel Group Shanghai Meishan Co.,Ltd products: prices are RMB 50/mt ($7/mt) lower than main steel base products.
7. Non-grain-oriented (NGO) electrical steel:
I) Prices of high grade steel and B35, B50AH470, and B50AR300 series are unchanged.
II) Prices of B50AR350, B50AH600, B50A470 and B50A540 series are down by RMB 200/mt ($30/mt).
III) B65 and lower grades, B50A600 and lower grades have been reduced in price by RMB 600/mt ($92/mt).
8. Grain-oriented electrical steel: prices are unchanged
9. Thick steel plate: prices are unchanged
All the above price changes are effective from May 10 and include 17 percent VAT
US$1 = RMB 6.52