China: Baosteel raises HRC prices by $71/t m-o-m for Nov'24 sales

Baosteel, a global steel giant, has increased HRC prices by RMB 500/t ($71/t) m-o-m for Nov'24 sales, according to BigMint's sources. The hike follows stimulus measures by the Chinese government and a sharp increase in the Shanghai Futures Exchange for HRCs. Moreover, hot-dip galvanised steel prices were raised by RMB 550/t ($78/t).