According to a source familiar with the matter, Baoshan Iron and Steel of China seemed to have noticed the domestic prices of steel for August shipment to each customer in early this week.

Baosteel maintained price of hot rolled coils from the previous month and increased prices of cold rolled steel sheets/coils to certain grades, hot dip galvanized steel and so on. Price of GI had been maintained or decreased after increase by CNY 300 for March shipment and increase of this time is for the first time in 5 months.

As of 12th, Baosteel prices known are as follows

1. Prices of hot coils and pickled hot coils remained unchanged

2. Cold rolled flats to lower grades of SPCC and SPCD were increased by CNY 50

3. Other grades remained unchanged

4. Price of GI was increased by CNY 50

5. Electro galvanized and galvalume remained unchanged

6. Prices of non oriented electrical steel to low and middle grades were decreased by CNY 350 to CNY 450. Those prices were decreased by maximum CNY 500 in July, by max CNY 600 in June and by max CNY 400 in May respectively totaling by max CNY 1,950. NO to high grade and grain oriented electrical steel s remained unchanged.

7. Prices of plates for shipbuilding and for other uses were decreased by CNY 100 and by CNY 150 respectively.

(Sourced from The TEX Report Ltd)