Baosteel raises plate steel prices for Dec bookings

sxcoal.com Company, Price, Steel Products 2023-11-13 09:54:51

Baoshan Iron and Steel Co., Ltd, also known as Baosteel, a subsidiary of state-run China Baowu Steel Group, increased its domestic base prices for main steel products by 50-100 yuan/t for December bookings.

These steel products include hot-rolled coil and sheet, heavy plate, cold-rolled coil and sheet, pickled steel, and hot-dip galvanized coil.

Baosteel's pricing decisions are generally regarded as a bellwether for the industry. The firm had raised the prices for October bookings and maintained the prices steady for November. The price hike in December indicates the company is optimistic about the sales outlook.

Baosteel's heavy plates are mainly used in shipbuilding, offshore platform, boiler, pressure vessel, pipeline, high building, bridge and heavy-duty trucks, etc. and hot-rolled steel products are widely used in ship, automobile, bridge, building, machinery and pressure vessel and other industrial applications.

(Writing by Riley Liang Editing by Harry Huo)
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