China’s top steelmaker Baosteel has put up its January prices for main products, by 300 to 600 yuan a metric ton (tonne). Baosteel’s hot-rolled steel prices have been raised by 300 yuan/tonne. Prices of cold-rolled steel rose by 550 yuan/tonne; those of pickling steel by 400 yuan/tonne;

hot-dipped galvanizing by 400 yuan/tonne; electric galvanizing by 600
yuan/tonne; color coating by 300 yuan/tonne; silicon steel by 600
yuan/tonne; and thick plates and ship plates by 50 yuan/tonne.

Analysts attributed the prices rise mainly to the current strong sales
. Baosteel has about 50 percent market share in China for steel plates
for building autos. Raising its price of cold-rolled steel by 550
yuan/tonne is an indication of the thriving demand for auto plates.
According to the China Association of Automobile Manufacturers, sales
volume of automotives reached 12 million units in the first 11 months,
which is expected to reach 13 million by the end of this year.

Yu Hong, from the company secretary’s office of Baosteel, expects steel
sheets used in automotive and household appliances to be next year’s
sales hotspot.

“Domestic demand for passenger vehicles will hopefully maintain a 10
percent to 20 percent growth rate next year, while demand for household
appliances may increase 9 percent to 12 percent, due to the central
government’s determination to promote domestic demand and consumption,”
said Yu.

As well as strong demand, rising prices of raw materials such as
furnace coke and iron ore have also contributed to the rise in steel
prices.

Tracking Baosteel, Wuhan Steel (600005.SH) also raised its January prices for steel products Friday.

Market watchers expect other steel giants like Angang (000898.SZ) to quickly follow suit in raising prices for January.

?
Source: Xinhua

Search to find what you want

• China Coking Coal Xishan says raise prices

    Xishan Coal and Electricity Power Co 000983.SZ, a listed arm of China’s top coking coal producer, said on Friday it plans to raise prices for coking coal from the beginning of next month. It will raise the price for washed coking coal to 1,215 yuan ($178) a tonne from 1,125

• Profit in China steel companies to take 20 billion yuan in July

     Chinese steel mills’ profit in July is expected to exceed 20 billion yuan (2.93 billion U.S. dollars), as the monthly growth of steel prices rose to an eight-year high, analysts said Monday.  Steel prices jumped in July, prompting profit in steel enterprises to expand, according to Xu Xiangchun, chief analyst with

• Overcapacity, high inventory levels burdening October in China Steel Tags

    China’s steel overcapacity and rising stocks will continue to weigh on prices, the China Iron and Steel Association (Cisa) warned as prices fell in October for the third consecutive month. Chinese steel prices slid 1.6 percent from the previous month and 7 percent from October last year but are expected

• China Wuhan Steel raised steel prices April-paper

    China’s Wuhan Iron and Steel Co has raised April prices for hot- and cold-rolled steel by 300 yuan a tonne, and for galvanised steel by 200 yuan a tonne, the official China Securities Journal said on Tuesday. Wuhan Steel was the first to announce April prices among China’s steel sector,

• China raises Xishan Coal coking coal prices

    Xishan Coal and Electricity Power, a listed arm of China’s top coking coal producer, said on Tuesday that it had raised prices for coking coal since the beginning of August as demand for the steel production ingredient recovered. It raised the price of washed coking coal to 1,125 yuan ($164.6) per tonne

• China s steel mills profits by 9 percent in October, mom

    China’s 70 medium and large-sized steel plants together achieved profits of 6.7 billion yuan in October, 9 percent more than the previous month, according to the China Iron and Steel Association (CISA). However, among these enterprises, 20 percent incurred losses, compared with 14.29 percent in September. In the first 10

• China Baosteel ups key Price 15 Sept PCT Mysteel

    China’s Baoshan Iron and Steel Co Ltd (Baosteel) has raised September prices for its major products by as much as 15 percent versus the August tags, higher than market expectations, industry consultancy Mysteel said on Tuesday. Baosteel, the listed unit of China’s largest steelmaker, has raised the price of its key hot-rolled

• China Baosteel ups key Price 15 Sept PCT Mysteel

    China’s Baoshan Iron and Steel Co Ltd (Baosteel) has raised September prices for its major products by as much as 15 percent versus the August tags, higher than market expectations, industry consultancy Mysteel said on Tuesday. Baosteel, the listed unit of China’s largest steelmaker, has raised the price of its key hot-rolled

• Hebei Steel cuts rebar prices by 19% in September

    Hebei Iron & Steel Group, China’s second-biggest steelmaker, cut prices of reinforcing bars by 19 percent, the first reduction since April, according to Umetal Research Institute.  The Hebei province-based mill cut benchmark prices of the product, used in buildings, by 950 yuan to 3,950 yuan ($578) a metric ton for September

• China raises steel price firm

     Wuhan Iron & Steel, China’s third-biggest steelmaker, raised prices for a fourth straight month as demand improves, said Umetal Research Institute. The Hubei province-based mill raised prices of hot-rolled coil, a benchmark product, by 21 per cent to 4,540 yuan (Dh2,442, $665) a metric tonne, excluding tax, said analyst Hu Yanping. Wuhan

• China raises steel price firm

     Wuhan Iron & Steel, China’s third-biggest steelmaker, raised prices for a fourth straight month as demand improves, said Umetal Research Institute. The Hubei province-based mill raised prices of hot-rolled coil, a benchmark product, by 21 per cent to 4,540 yuan (Dh2,442, $665) a metric tonne, excluding tax, said analyst Hu Yanping. Wuhan

• Steel Authority of India cuts prices by up to 10 U.S. $ per ton

    India’s state-run steel maker SAIL cut the prices of its flat steel products, used mainly by automobile and white goods industry, by up to Rs 500 (US$10.81) a tonne on account of weakening global demand.

• China steel price has been 14 weeks

     Steels prices in China had kept climbing by 14 straight weeks till last week, according to statistics from the China Iron and Steel Association. The composite price index of steel products reached 104.88 last week, up 1.12 percent over the previous week. Lange Steel’s survey on 30 steel products showed that

• Chinas Baosteel in February producer prices increased

    Baoshan Iron & Steel Co (Baosteel), the nation’s largest steel mill, significantly raised its February manufacturer prices, the China Daily reported Thursday.

• China s Baosteel in February producer prices increased

    Baoshan Iron & Steel Co (Baosteel), the nation’s largest steel mill, significantly raised its February manufacturer prices, the China Daily reported Thursday. Major steel wire product prices went up 300 yuan (44 U.S.