China's Baosteel Increases HRC Price for June

Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, has announced its domestic sales list prices yesterday for carbon steel hot-rolled coil (HRC) for June deliveries.

--HRC price has been raised by RMB 50/MT (USD 7)

--Heavy plate prices increased by RMB 100/MT (USD 14)

--Hot Dipped Galvanized steel prices remain unchanged

--The prices apply to HRC made at its four flat steel plants comprising the Baoshan works in East China's Shanghai, the Meishan mill in East China's Jiangsu, its Qingshan plant in central China's Hubei province, and the Dongshan works in South China's Guangdong province.

Usually, Baoshan Steel doesn't release its final sales prices, only the margin of adjustment up or down.

Chinese domestic HRC prices surged after labour day holidays to RMB 3,380-3,390/MT (inclusive VAT in eastern China) in contrast to RMB 3,270-3,300/MT a week ago.

Last month the company had reduced HRC price by RMB 100/MT and kept heavy plates prices unchanged. Meanwhile Hot Dipped Galvanized steel prices declined by RMB 150 and Colour coating prices reduced by RMB 200.

China's Baowu Group was world's 2nd largest steel producer in CY18 with output of 67.43 MnT.