China: Baosteel Raise Flat Steel Prices by USD 8/MT for April

China's major steelmaker - Baosteel has increased flat steel prices for April by USD 8/MT (Yuan 50/MT) after maintaining stability since past two months.

Baosteel has raised flat steel prices for the month of April by Yuan 50/MT (USD 8) after keeping it unchanged for Feb and March shipments over stability in domestic market. Previously the company has raised flat steel prices by USD 18/MT in Jan'18.

The effective rates for HRC ( Q235 5.5m) are heard to be at RMB 5,042/MT(USD 797/MT) and Q235 plates stood at RMB 4,050/MT(USD 641/MT).

However effective prices of CRC (1.0mm, SPCC) is at RMB 5,166/MT (USD 816/MT).Whereas HDG coil (1.0mm,DX51D+Z) is at RMB 5,897/MT (USD 933/MT).All prices mentioned above are on ex-works basis excluding VAT.

China's domestic HRC prices witness decline towards weekend-Domestic prices in China has started showing downtrend after the announcement of anti circumvention case Section 232 by Donald Trump to impose tariffs on USA steel imports by 25%.

China's domestic HRC stood at RMB 3,930-3,960/MT (Eastern China) down by RMB 190/MT against beginning of the week, amid bearish sentiments in domestic market.