China: Baosteel Slash CRC and HDG Prices for July Shipments

Baosteel is one of the major iron and steel company with the highest level of modernization in China. Baosteel is in the top position in the domestic industry and among the leading global iron and steel enterprises. China Baowu Group produced 63.8 MnT steel in CY16.

China's major steel giant Baosteel slashed CRC and HDG prices,and has kept the HRC and plate prices stable for July shipments.

The company has declined CRC SPCC 1.0mm prices by RMB 80/MT equivalent to USD 11.80/MT and are hovering in the range of RMB 4,436/MT (USD 653/MT).Prices are on Ex-work basis excluding VAT.

Whereas prices of 1.0mm HDG produced in Baoshan and Dongshan moved down by RMB 80/MT and are assessed in the range of RMB 5,247/MT equivalent to (USD 772/MT). All prices are on Ex-work basis excluding VAT.

However,effective rates of HRC Q235 5.5mm in eastern China remain unaltered and are assessed to RMB 4,232/MT equivalent to USD 523/MT.Whereas Q235,14-20mm plate prices are heard in the range of RMB 3,100/MT equivalent to (USD 456/MT). Prices are on Ex-work basis excluding VAT.