Chinese mills leave HRC prices unchanged for May shipment

BEIJING (Scrap Monster) : As per industry sources, major Chinese mills have decided to keep the prices of HR Coils unchanged for May shipment. Wuhan Iron & Steel (WISCO) and Anshan Iron and steel (Ansteel) are among the few mills that have decided to leave the domestic HRC prices unchanged.

WISCO has announced its decision to leave the prices unchanged for steel sheets/coils like hot-rolled (HR) steel coils and electrical steel sheets (both non-oriented and grain-oriented) except cold-rolled (CR) steel sheets and electro-galvanized steel sheets. Also, April prices will continue to be in effect for steel plates and steel shapes and sections. However, the company has decided to reduce the prices of CR sheets except for enameling use by 100 CNY ($16) and those of electro-galvanized sheets by 50 CNY ($8) when compared with the April shipment prices.

According to sources, Ansteel has decided to keep the prices unchanged for hot-rolled (HR) steel coils, steel wire rods and steel shapes and sections. It also has announced a hike in prices for steel plates-May shipment by 50 CNY ($8). Also, the May-shipment price of cold-rolled steel sheets and hot-dip galvanized steel sheets have been reduced by 50 CNY ($8).

Meantime, Baoshan Iron & Steel (Baosteel) had decided to reduce the shipment prices for all products in anticipation of poor market condition.