China: Baosteel Increases Steel Price for August

China's major steelmaker - Baosteel has announced increase in its steel prices today for August deliveries. The company has increased its HRC prices by RMB 100/MT (USD 15/MT) in its Baoshan, Meishan and Dongshan base for August deliveries.

After increase company's effective prices for HRC (SS400 5.5mm*1500*C) were hovering at RMB 4872.56/MT (USD 708/MT). Prices mentioned above are inclusive of taxes.

Meanwhile prices for CRC (SPCC 1.0mm *1250*C) also surged by RMB 100/MT in Baoshan, Qingshan, Dongshan and Meishan base.

Further the company also raised its HDGI and HR plate prices by RMB 100/MT for August deliveries.

Prior this, last month Baosteel had reduced its steel prices by RMB 100/MT for July deliveries.

Chinese HRC prices in domestic market- Domestic HRC prices showed uptrend since end of June to beginning of Jul'19 in the wake of resumed trade talks between USA and China along with announced production curbs in Tangshan region. Tangshan government announced steel & sintering production cuts of 20-50% until 1st Aug to curb air pollution.