It is reported that China's biggest steelmaker Baosteel has planned to raise its February delivery prices for main steel products. Baosteel's pricing strategy usually sets the tone for the rest of the market.
The steel giant Baosteel will increase its hot-rolled coil prices are at RBM150/ton for and RMB 100-120/ton for cold-rolled coil.
Meanwhile, for March delivery, the prices of hot-rolled coil is likely to remain unchanged, but cold-rolled coil will expect to increase of RMB80/ton compared to February delivery prices.
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