Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in November. The details are as follows (comparisons are with October delivery prices):
1. Hot rolled coil (HRC):
Prices of products from Baosteel's main steel production base have decreased by RMB 100/mt ($16/mt), while HRC prices from Baosteel's Shanghai-based subsidiary Meishan Steel have remained unchanged.
2. Hot rolled pickled products:
Prices of hot rolled pickled products from both Baosteel's main steel base and Meishan Steel have remained stable.
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.
4. Hot dip galvanized (HDG):
a) Prices of hot dip galvanized products from the main steel base have decreased by RMB 100/mt ($16/mt).
b) Prices of hot dip galvanized products from Meishan Steel have declined by RMB 100/mt ($16/mt).
5. Electro-galvanized (EG) products:
Prices of EG products have remained unchanged.
6. Galvalume:
Prices of galvalume from both Baosteel's main steel base and Meishan Steel have remained stable.
7. Non-grain-oriented (NGO) electrical steel prices:
Prices have remained unchanged.
8. Grain-oriented (GO) electrical steel prices:
Prices of 30R, CGO and NSGO grades have increased by RMB 100/mt ($16/mt), while prices of 27R and 23R grades have risen by RMB 200/mt ($32/mt), with prices of other grades remaining unchanged.
All the above price changes are effective from October 10 and exclude 17 percent VAT.
$1 = RMB 6.13