China's Baosteel Lowers HRC Price for Apr'20

Baoshan Iron & Steel (Baoshan Steel), the listed-arm of China Baowu Steel Group, announced its domestic sales list prices for carbon steel hot-rolled coil (HRC) for Apr, according to its pricing policy released on Mar'10.

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

--HR price has been lowered by RMB 50 (USD 7)
--Heavy plate prices remain unchanged
--CR prices have been reduced by RMB 100 (USD 14)
--Hot Dipped Galvanized steel prices have also been reduced by RMB 100 (USD 14)

The company had kept prices unchanged for March.

China Baowu Steel Group (Baowu) estimated its steel production and sales to be down around 1 MnT on year for February, which will be 8% below its targets for February or 5% off its Q1 expectation, because of the novel coronavirus disease (COVID-19), Zhang Jingang, Baowu's vice general manager shared at a industrial meeting conducted towards end Feb'20.

Domestic HRC prices in eastern China are currently assessed at RMB 3,490-3,500/MT ex-works, including VAT.