Baosteel hikes HRC list prices by $29/t for April sales

Baoshan Iron & Steel Co (Baosteel), the listed arm of the world's top steelmaker China Baowu Steel Group, is lifting the list prices of its major steel flats, including hot-rolled coil (HRC), by Yuan 200/tonne ($29/t) for domestic sales in April, according to the company's latest pricing announcement issued on Monday.

Baosteel's recent price adjustments Source: Baosteel The price hikes mark Baosteel's first pricing announcement after the Chinese New Year (CNY) holiday ending February 23, mainly supported by market expectations for a recovery in downstream demand in April - a traditional peak month for consumer goods and steel consumption in China. Currently, HRC inventories among downstream manufacturing enterprises