Go to List

China: Baoshan Steel rolls over HRC list prices for July sales

Baoshan Iron & Steel (Baoshan Steel), the listed arm China Baowu Steel Group, has decided to roll over its list prices of carbon steel hot-rolled coil (HRC) for J...

Finish Flat
By
439 Reads
14 Jun 2022, 10:27 IST
China: Baoshan Steel rolls over HRC list prices for July sales

Baoshan Iron & Steel (Baoshan Steel), the listed arm China Baowu Steel Group, has decided to roll over its list prices of carbon steel hot-rolled coil (HRC) for July domestic sales, according to the company's latest pricing policy released via its official WeChat account on June 10.

Earlier this month on June 1, China's largest privately-owned steelmaker, Shagang Group, said its list price for Q235 5.5mm HRC (1,500 mm-wide) was Yuan 5,600/tonne ($829.6/t) including the 13% VAT, unchanged from May. Shagang will be watched closely at the end of this month for any change in its HRC price for July.

With the easing pandemic situation in East China's Shanghai since June 1, steel demand from end-users has recovered with the resumption of operations. However, the room for their demand to grow further is rather limited for now, given the scarcity of orders at hand, a Shanghai-based source remarked, saying the limited orders are preventing prices from rising.

However, some mills are bullish on prices for next month, as the consumption of HRC is likely to grow with the recovery phase in June just after the end of the pandemic. Besides, the central government has launched a series of measures to promote the sales of automobiles and white goods recently, the source commented.

China's national price of Q235 4.75mm HRC was assessed by Mysteel at Yuan 4,897/t including the 13% VAT as of June 10, slipping by Yuan 115/t on month.

For July sales, Baosteel added Yuan 100/t for PO coil and for cold-rolled coil depending on specifications. It rolled over its prices for carbon steel plate, hot-dipped galvanized steel, electro-galvanized steel, color-coated coil, non-grain oriented electrical steel and grain oriented electrical steel.

Written by Villanelle Xia, xiayi@mysteel.com

Note: This article has been published in accordance with an article exchange agreement between Mysteel Global and SteelMint.

 

14 Jun 2022, 10:27 IST

 

 

You have 0 complimentary insights remaining! Stay informed with SteelMint
;