BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

China : Baosteel Hikes Flat Steel Price for April

...

Finish Flat

BigMint Bureau

1031 Reads

13 Mar 2019, 12:34 IST

China's major steelmaker Baosteel announced flat steel prices for April deliveries recently. The company has raised flat steel prices by RMB 300-350/MT (USD 45-52/MT).

The company has increased HRC prices by RMB 300/MT for April deliveries. Effective rates for HRC (SS400 5.5mm*1500*C) stood at RMB 5,001.92/MT (USD 745/MT). All prices mentioned above are inclusive of taxes.

Meanwhile prices for CRC (SPCC 1.0mm *1250*C) surged by RMB 300/MT to 5725.76/MT (USD 853/MT). Prices mentioned above are inclusive of taxes.

Following this, company also raised HDGI prices by RMB 350/MT and plate prices by RMB 300/MT.

Chinese HRC prices in domestic market- In the mid of the Mar'19 domestic HRC prices is hovering around RMB 3,840-3,860/MT (eastern China) which was RMB 3,790-3,800/MT (eastern China) in mid Feb'19.

Thus Chinese steelmakers are increasing steel prices in domestic market amid strong futures and improved demand.

Meanwhile Chinese govt. has cut its value added tax rate from 16% to 13% for most industries and from 10% to 9% for transport and construction sectors. This will help Chinese steel mills to increase their profitability and boost prices in domestic market.