Baoshan Iron & Steel to Set Flat Rolled Price Unchanged in December

Baoshan Iron & Steel announced on Thursday the firm sets carbon flat rolled steel selling price unchanged in December from November. The price stays flat for 2 straight months for hot rolled and cold rolled coil, electrogalvanized steel and galvalume. The firm seems to decide to set the price unchanged when Chinese market price is declining since late September and the demand remains low. Chinese domestic raw steel output increased in October for the first time in 5 months. The market price would not increase when the major maker freezes the price and the supply and demand balance could get loose.

The firm sets selling price of pickling steel, hot dip galvanized, electrical steel and plate unchanged in December while the price increased for the items in November. On the other hand, the firm increases stainless steel sheet price by 100 yuan per tonne as November.

Hot rolled sheet market price in Beijing stayed flat in first week of November from the previous week after decline for 6 straight weeks, according to China Iron & Steel Association. However, the price would not rebound due to the production adjustment by steel users. The firm expected the domestic demand in October-December would be in line with July-September level and the market price would not increase, in third quarter earnings announcement in late October.