China: Baosteel Keeps Flat Steel Prices Unchanged For November Deliveries
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China's major steelmaker - Baosteel has announced flat steel prices for November deliveries. The company has kept flat steel prices unchanged after increasing prices for past two consecutive months.
The effective rates for HRC (SS400 5.5mm*1500*C) are heard to be at RMB 5,233/MT (USD 760/MT).Prices mentioned are inclusive of taxes.
Also effective prices of CRC (SPCC 1.0mm,-1250*C) is hovering at RMB 5,783/MT (USD 825/MT).All prices mentioned above are inclusive of taxes.
Company also kept HDGI prices unchanged for November deliveries.Last month company had increased HDGI prices by RMB 150/MT for October deliveries.
However Baosteel raises coated steel prices by RMB 150/MT for Baoshan base and RMB 250/MT for Meishan base for November deliveries
Chinese HRC prices remain dull ahead of winter production cuts- Chinese steelmakers remained cautious ahead of winter production cuts in China starting ahead winter heating season from 1st Nov'18 till 31st Mar.Thus steel manufacturers have kept HRC prices firm in domestic market.
In the beginning of Sep'18 domestic HRC prices stood at RMB 4,350-4,360/MT (Eastern China ),which declined to RMB 4,220-4,230/MT (Eastern China) in beginning of October.