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Baoshan Steel chops its HRC prices by $30/t for Aug sales

ABSTRACT

Baoshan Iron & Steel (Baoshan Steel), the listed arm of the world's largest steelmaker China Baowu Steel Group, has decided to lower its list prices for carbon steel hot-rolled coils (HRC) for domestic sales in August by Yuan 200/tonne ($29.7/t), according to the company's latest pricing policy released via its official WeChat account on July 11.
Prior to this adjustment, Baoshan Steel has kept its HRC list prices unchanged for a month, Mysteel Global noted.   As usual, Baoshan Steel doesn't reveal the actual list prices for products in its monthly pricing policy, but only the margin of adjustment, Mysteel Global understands.   Behind the steel giant's decision to cut

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