On January 6, major Chinese steelmaker Baosteel issued its prices for carbon steel flat products for delivery in February. The group has decided to raise its local base prices for hot rolled coils (HRC), hot rolled pickled products, cold rolled coil (CRC), and non-grain-oriented electrical steel by RMB 30/mt ($4.3/mt), RMB 50/mt ($7.2/mt), RMB 100/mt ($14.3/mt) and RMB 50-200/mt ($7.2-28.6/mt) respectively, while it has kept its base prices stable for steel plate, hot dip galvanized (HDG), electro-galvanized products and grain-oriented electrical steel, SteelOrbis has learned.
Last month, the group decided to raise its local base prices for steel plate, HRC, hot rolled pickled products, CRC, HDG, electro-galvanized products and non-grain-oriented electrical steel by RMB 100/mt ($14.2/mt), providing support for the steel market.
$1 = RMB 6.969