Sep 06,2019 Steel Knowledge.
China's Shagang Group announced to decrease its steel price by RMB 320/ton for September.
After the adjustment, Shagang's Q235 was about RMB 3,780/ton and SPHC was about RMB 3,810/ton. Currently, the prices of iron ore and coking coal were both declined.
In addition, India and Russia offered a low price for hot-rolled coils to get orders from the Vietnamese market.
Baosteel, the leading steelmaker in China, planned to announce its hot-rolled, cold-rolled, pickled and galvanized coil prices, grain-oriented electrical steel plate for September soon next week.
Based on the above factors, the market expected Baosteel might keep the prices flat or slightly decrease the prices for September.