Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in November this year.
The producer has decided to raise its local base prices for hot rolled coil (HRC), steel plate and acid pickling plate by RMB 500/mt ($71/mt), to increase its local base prices for cold rolled coil (CRC), hot dip galvanized (HDG) and medium-aluminum zinc aluminum magnesium by RMB 550/mt ($78/mt), and to raise its local base prices for galvalume, high-aluminum zinc aluminum magnesium and pre-painted galvanized iron (PPGI) by RMB 400/mt ($57/mt), all for delivery in November.
Baosteel received increased orders for delivery in November, which has supported its price rises. Meanwhile, China’s announcements of stimulus policies have exerted a positive impact on steel prices.