Baosteel reduces flat steel prices for July deliveries

Major Chinese steelmaker Baosteel has issued its prices for carbon steel flat products for July deliveries. The details are as follows (comparisons are with June prices):
 
1.     Hot rolled coil (HRC):
Prices of products produced by Baosteel's main steel production base are down by RMB 200/mt ($31/mt).
 
2.     Hot rolled pickled products:
1) Prices of products from the main steel base are down by RMB 100/mt ($15/mt). 
2) Products from Baosteel Group Shanghai Meishan Co. have been reduced by RMB 150/mt ($23/mt).
 
3.  Cold rolled (CR) products:
   1) Baosteel's main steel production base:
(a) Prices of products from the main steel base are all down by RMB 200/mt ($31/mt).
(b) Compared to (a), prices of DQ grade mild steel have been reduced by a further RMB 100/mt ($15/mt), and prices of DDQ, EDDQ & SEDDQ grade mild steel and high strength steel are down by a further RMB 150/mt ($23/mt).
2) Products from Baosteel Group Shanghai Meishan Co. are RMB 100/mt ($15/mt) lower in price than products from the main steel base.
   3) Prices of welding quality products (July-August): compared to prices in May-June, the prices of single-layer welded pipe are down by RMB 100/mt ($15/mt), while double-layer welded pipe and welding quality wire rod are down by RMB 200/mt ($31/mt).
 
 4.  Hot dip galvanized (HDG):
1) Main steel base products
(a) All prices are down by RMB 100/mt ($15/mt).
(b) Compared to (a), prices of DDQ grade mild steel have decreased by an additional RMB 200/mt ($31/mt), while prices of EDDQ, SEDDQ grade mild steel and high strength steel for cold rolled base sheet have been reduced by a further RMB 300/mt ($47/mt).
     2) Products from Baosteel Group Shanghai Meishan Co. are down by RMB100/mt ($15/mt).
 
5.  Electro-galvanized (EG) products:
(a) All down by RMB100/mt ($15/mt).
(b) Compared to (a), prices of DDQ grade mild steel have been cut by an additional RMB 200/mt ($31/mt), while prices of EDDQ, SEDDQ grade mild steel and high strength steel have been cut by an additional RMB 300/mt ($47/mt).
 
6.  Galvalume:
1) Prices of products from the main steel base are down by RMB 300/mt ($47/mt), while the prices of products with width of 900-999 mm are RMB 50/mt ($7/mt) lower than prices of 800-899 mm materials.
2) Prices of products from Baosteel Group Shanghai Meishan Co. are RMB 50/mt ($7/mt) lower than prices of products from the main steel base.
 
7.  Color coated (July-August):
The prices of products in July-August are RMB 200/mt ($31/mt) lower than the prices for May-June.
 
8.  Non-grain-oriented (NGO) electrical steel prices are unchanged.
 
All the above price changes are effective from June 11, 2012 and exclude 17 percent VAT
 
$1 = RMB 6.31