Posted on 11 Jan 2023
Baoshan Iron & Steel Co (Baosteel), the listed-arm of the world's largest steelmaker China Baowu Steel Group, has decided to add Yuan 100/tonne ($14.8/t) to its list prices of carbon steel hot-rolled coil (HRC) for domestic sales in February, after having lifted the list prices by Yuan 200/t for January, according to the company's new pricing policy released via its official WeChat account on Monday evening.
As usual, Baosteel did not disclose the actual list prices for its individual products in its monthly pricing policy, but just the margin of price adjustment, Mysteel Global noted.
The lift in sales prices reflected the mill's anticipation of better steel demand, mainly underpinned by higher forecasts for China's GDP growth in 2023, a Shanghai-based analyst said. Besides, increased orders from overseas HRC buyers also gave the mill more confidence to lift its prices.
By January 9, China's national price of Q235 4.75mm HRC was assessed by Mysteel at Yuan 4,187/t including the 13% VAT, or gaining by Yuan 122/t on month.
In addition to HRC, Baosteel will also raise its list prices for color-coated coils and non-grain oriented electrical steel by Yuan 50/t for February sales depending on certain specifications. Meanwhile, the company's list prices for carbon steel plates, cold-rolled coils and electro-galvanized steel will be lifted by Yuan 100/t depending on specifications, and those for pickled and oiled coils will also be raised by Yuan 150/t, according to the latest pricing policy.
The company will keep its list prices for hot-dipped galvanized steel and grain oriented electrical steel unchanged for domestic sales in February, according to the release.
Source:Mysteel Global
