Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in May this year.
The producer has decided to raise its local base prices by RMB 100/mt ($14.6/mt) for hot rolled coil (HRC), steel plate, acid pickling plate, pre-painted galvanized iron (PPGI), medium-aluminum zinc aluminum magnesium, high-aluminum zinc aluminum magnesium, galvalume, non-grain-oriented silicon steel, welded steel pipes, wire rod and bar.
At the same time, the producer will keep its local base prices stable for cold rolled coil (CRC), hot dip galvanized (HDG), grain-oriented silicon steel and seamless steel pipes, all for delivery in May this year.
In the CRC, HDG, grain-oriented silicon steel and seamless steel pipe segments, the demand situation is not so strong, reflecting the ongoing sluggish demand recovery for downstream products, prompting Baosteel to prioritize price stabilization as it aims to secure orders.
As for HRC, plate, longs and some other products, Baosteel views the market situation as being better and hopes for a faster demand release in the peak season. “Chinese PPI and CPI all rose, which shows the cost support… Baosteel refreshing its HRC base price up by RMB100/mt signals the mill aims to improve margins,” a Chinese trader noted.
