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Baosteel Ups Domestic Sheet Prices For July Shipments
China's Baosteel Co Ltd applies price increases to main sheet products in a June 10 notice to domestic customers on the company's price terms of various steel products for July shipments, it was learned in Tokyo Wednesday. But it is uncertain what price revision applies to tinplate for July shipments.

The price increases by the ton are Yn500 (US$74) for HR coils, Yn400 (US$59) for CR coils, Yn500 (US$74) for hot-dip galvanized sheets, and Yn350 (US$51) for electrolytic galvanized sheets.

With the price increases this time, Baosteel's new prices after value-added tax are settled at Yn4,235/ton (US$623) for HR coils and Yn4,759/ton (US$699) for CR coils. As a result, the company's new prices are higher than the price settlements by Wuhan Iron & Steel Group Corp (Wisco) for July shipments. Wisco's asking prices after VAT are Yn4,003/ton (US$589) for HR coils and Y4,701/ton (US$691) for CR coils.

Baosteel's domestic price increases for July shipments are higher than what Japan's steel industry sources forecast. Therefore, it is understood that the company's domestic price increases this time reflect the strength of domestic steel demand in China, market observers point out.
last modified : Tue 16 Jun, 2009 [13:42]
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