Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in February this year.
The producer has decided to keep its local base prices stable for hot rolled coil (HRC), acid pickling plate, cold rolled coil (CRC), hot dip galvanized (HDG), galvalume, medium-aluminum zinc aluminum magnesium, high-aluminum zinc aluminum magnesium, non-grain-oriented silicon steel and oriented silicon steel, while raising local base prices for pre-painted galvanized iron (PPGI) by RMB 100/mt ($14/mt), all for delivery in February.
As the Chinese New Year holiday (January 28-February 4) is approaching, demand from downstream users in the steel market will be slack and transaction activities will be quiet.