SHANGHAI, Jun. 13 (SMM) – Baosteel Group announced to leave ex-works prices unchanged for cold-rolled, hot-rolled, galvanizing, and color-coated products in July, Shanghai Metals Market’s ferrous branch Steelease learnt.
July’s prices, however, were cut by 150 yuan ($24) per tonne for pickled products, and were raised by 200 yuan for 27R and 23P oriented electrical steel products.
Such price strategy reflects the company’s intention to support market sentiment after cutting prices over the past two months. Relatively stable prices of flat products also allowed them to maintain prices unchanged. Besides, Baosteel also needs strong performance to support its market share expansion plans.
Baosteel had already cut steel prices by 50-150 yuan per tonne both in May and June in response to low demand season for steel products.