Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in December. The details are as follows (comparisons are with November delivery prices):
1. Hot rolled coil (HRC):
Prices of products from Baosteel's main steel production base have remained unchanged.
For bookings concluded on or before November 17, there will be a discount of RMB 150/mt ($24/mt), while there will be a RMB 100/mt ($16/mt) discount for bookings concluded on or before November 21.
2. Hot rolled pickled products:
Prices of hot rolled pickled products from both Baosteel's main steel base and Baosteel's Shanghai-based subsidiary Meishan Steel have remained stable.
For bookings concluded on or before November 18 there will be a RMB 150/mt ($24/mt) discount, while there will be a RMB 30/mt ($4/mt) discount for bookings concluded on or before November 21.
3. Cold rolled (CR) products:
a) Prices of cold rolled products from the main steel base have decreased by RMB 100/mt ($16/mt).
b) Prices of cold rolled products from Meishan Steel are RMB 100/mt ($16/mt) lower than prices of products from the main steel base.
c) For bookings concluded on or before November 17 there will be a RMB 150/mt ($24/mt) discount, while there will be a discount of RMB 50/mt ($8/mt) for bookings concluded on or before November 21.
4. Hot dip galvanized (HDG):
a) Prices of hot dip galvanized products from the main steel base have remained stable, while there is a discount of RMB 100/mt ($16/mt) for bookings concluded on or before November 18.
b) Prices of hot dip galvanized products from Meishan Steel are unchanged.
5. Electro-galvanized (EG) products:
a) Prices of EG products have remained unchanged.
b) For bookings of common quality (CQ) EG concluded on or before November 12 there will be a discount of RMB 100/mt ($16/mt), while there will be a RMB 60/mt ($9.8/mt) discount for non common quality EG. For bookings of common quality (CQ) EG concluded on or before November 21 there will be a discount of RMB 50/mt ($8/mt), while there will be a RMB 30/mt ($4/mt) discount for non common quality EG.
6. Galvalume:
a) Prices of galvalume from both Baosteel's main steel base and Meishan Steel have remained stable.
b) For bookings concluded on or before November 20 there will be a discount of RMB 150/mt ($24/mt).
7. Non-grain-oriented (NGO) electrical steel prices:
a) Prices have remained unchanged.
b) For bookings concluded on or before November 14 there will be a discount of RMB 150/mt ($24/mt).
8. Grain-oriented (GO) electrical steel prices:
Prices of grain-oriented electrical steel have increased by RMB 1,000/mt ($162/mt).
All the above price changes are effective from November 10 and exclude 17 percent VAT.
$1 = RMB 6.14