Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in February. The details are as follows (comparisons are with January delivery prices):
1. Hot rolled coil (HRC):
a) Prices of products from Baosteel's main steel production base have remained unchanged.
For bookings concluded on or before January 13, 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 January 20.
b) HRC for automotive sector from Baosteel's Shanghai-based subsidiary Meishan Steel
b1) Prices of steel used for making automotive frames, including B420L, B510L, B550L, B590L, B600L, B610L, B650L, B700L and ZQS500L grades, and prices of steel used for making automobile wheels, including B330CL, B380CL, B420CL, B500CL, B550CL, B650CL, DP600 and HR60 grades, have decreased by RMB 100/mt ($16/mt), while other product prices have remained unchanged.
b2) For bookings concluded on or before January 22 there will be a RMB 150/mt ($24/mt) discount.
2. Hot rolled pickled products:
a) Prices of hot rolled pickled products from Baosteel's main steel base and Shanghai-based subsidiary Meishan Steel have remained unchanged.
b) For bookings concluded on or before January 20 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 January 23.
3. Cold rolled (CR) products:
a) Prices from Baosteel's main steel base have remained unchanged.
b) Prices from Meishan Steel are RMB 100/mt ($16/mt) lower than prices from Baosteel's main steel base.
c) For bookings concluded on or before January 16 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 January 23.
4. Hot dip galvanized (HDG):
a) Prices of hot dip galvanized products from the main steel base have remained unchanged, while there is a discount of RMB 150/mt ($24/mt) for bookings concluded on or before January 15.
b) Prices of hot dip galvanized products from Meishan Steel are unchanged, while there is a discount of RMB 100/mt ($16/mt) for bookings concluded on or before January 15.
5. Electro-galvanized (EG) products:
a) Prices of electro-galvanized products have remained stable.
b) For bookings of common quality (CQ) EG concluded on or before January 13 there is a discount of RMB 100/mt ($16/mt), while there will be a RMB 60/mt ($9/mt) discount for non-common quality EG. For bookings of common quality (CQ) EG concluded on or before January 20 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 have remained unchanged.
b) For bookings concluded on or before January 23 there will be a discount of RMB 150/mt ($24/mt).
7. Non-grain-oriented (NGO) electrical steel prices:
a) Prices have remained unchanged for high quality NGO products, while other prices have decreased by RMB 80/mt ($12/mt).
b) For bookings concluded on or before January 15 there is a discount of RMB 200/mt ($32/mt).
8. Grain-oriented (GO) electrical steel prices:
a) Prices of CGO products, including 130 series and above, have increased by RMB 300/mt ($48/mt), while prices of other grades have remained unchanged.
b) Prices of indented GO electrical steel have increased by RMB 400/mt ($64/mt).
c) Prices of grain-oriented steel with high magnetic strength, including 105 series and above, have increased by RMB 500/mt ($80/mt), while prices of other grades have increased by RMB 400/mt ($64/mt).
All the above price changes are effective immediately and exclude 17 percent VAT.
$1 = RMB 6.20