Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in July this year.
The producer has decided to keep its local base prices for hot rolled coil (HRC), steel plate, section steel, hot rolled pickled products, cold rolled coil (CRC), hot dip galvanized (HDG) and electro-galvanized products stable for July.
On the one hand, the rainy weather in China has been putting pressure on domestic demand. But on the other hand, higher futures and raw material prices have been preventing declines in finished steel prices, for flats in particular.
In early June (June 1-11) local HRC prices from warehouses have been fluctuating in the narrow range of RMB 5,490-5,560/mt ($860-871/mt), according to SteelOrbis’ data.
$1 = RMB 6.3856
