Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for delivery in August this year.
The producer has decided to raise its local base prices by RMB 50/mt ($7.4/mt) for hot rolled coil (HRC), steel plate, acid pickling plate, cold rolled coil (CRC), hot dip galvanized (HDG), pre-painted galvanized iron (PPGI), medium-aluminum zinc aluminum magnesium, high-aluminum zinc aluminum magnesium, galvalume, grain-oriented silicon steel, non-grain-oriented silicon steel, seamless steel pipes (mechanical structural tube), welded steel pipes, wire rod and bar, all for delivery in August this year.
Baosteel’s move signals that it aims to bolster steel prices against the backdrop of slack demand from downstream users amid the current hot weather.
