Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in May. The details are as follows (comparisons are with April delivery prices):
1. Hot rolled coil (HRC):
Prices of products from Baosteel's main steel production base have decreased by RMB 50/mt ($8/mt).
2. Hot rolled pickled products:
Prices of hot rolled pickled products from Baosteel's main steel base and its Shanghai-based subsidiary Meishan Steel have declined by RMB 100/mt ($16/mt) and RMB 80/mt ($12/mt), respectively.
3. Cold rolled (CR) products:
a) Common quality and non-automotive CRC prices from Baosteel's main steel base have decreased by RMB 80/mt ($12/mt), while other product prices have remained stable.
b) Prices from Meishan Steel are RMB 100/mt ($16/mt) lower than those from Baosteel's main steel base.
4. Hot dip galvanized (HDG):
a) Prices of common quality and high-strength hot dip galvanized products from the main steel base have decreased by RMB 80/mt ($12/mt), while prices of other products have remained unchanged.
b) Prices of hot dip galvanized products from Meishan Steel have decreased by RMB 80/mt ($12/mt).
5. Electro-galvanized (EG) products:
Prices of common quality (CQ) electro-galvanized products have decreased by RMB 50/mt ($8/mt), while prices of other products have remained stable.
6. Galvalume:
Prices of galvalume from Baosteel's main base and Meishan Steel have decreased by RMB 50/mt ($8/mt).
7. Non-grain-oriented electrical steel prices:
Prices of medium and low grade non-grain-oriented electrical steel prices have decreased by RMB 80/mt ($12/mt).
8. Grain-oriented (GO) electrical steel prices:
a) Prices of common GO products have increased by RMB 200/mt ($32/mt).
b) Prices of indented GO electrical steel have increased by RMB 200/mt ($32/mt).
All the above price changes are effective immediately and exclude 17 percent VAT.
$1 = RMB 6.20