Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in October this year.
The producer has decided to keep its local base prices stable for hot rolled coil (HRC), steel plate, acid pickling plate, cold rolled coil (CRC), hot dip galvanized (HDG) and medium-aluminum zinc aluminum magnesium, high-aluminum zinc aluminum magnesium, galvalume, pre-painted galvanized iron (PPGI), non-grain-oriented silicon steel, seamless steel pipe, welded steel pipe, wire rod and bar, all for delivery in October.
Currently, the inventories of downstream users are at relatively low levels and so they need to build up stocks in the coming period, while the big rises in prices of flat products for delivery in September limited Baosteel’s ability to raise prices for October.
$1 = RMB 7.1062