Baosteel expected to increase prices for Dec
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Update time : 2020-11-10 16:45:30
Baosteel, a major steel mill in China, will announce its new price for December soon.
According to understanding, global steel prices have risen sharply. Stimulated by the high prices of international raw material, Baosteel was expected by market participants to increase its prices of hot-rolled coils (HRC) for December.
Baosteel lowered its HRC price by RMB 100/ton for November and increased its other products by RMB 100-150/ton generally. Baosteel has increased its HRC price by 5 consecutive months, with a total increase of about RMB 680/ton.
Baosteel ended the continuous price hike during November because the demand was not good as expected after September long national holidays. However, China's steel prices have rebounded sharply and international steel prices have risen sharply in October. Therefore, it was expected that Baosteel's price will be higher in December.
