Baosteel raises product prices for September

Aug. 12, 2009 (China Knowledge) - Baoshan Iron and Steel Co Ltd<600019>, China's largest steelmaker, raised the prices of major steel products for next month's delivery by RMB 500 to RMB 900 in order to stabilize steel prices, according to industry sources.

Baosteel raised the price of its key hot-rolled and cold-rolled steel coil by 600 per ton, and prices for non-oriented electrical steel products rose by RMB 900 per ton, while those of oriented silicon steel products remain unchanged.

The Chinese steel producer adjusted the September delivery prices of several other products on Friday. The price of steel wire increased by RMB 300 to RMB 400 per ton. Prices of structural steel, boiler/container plate and ship plate grew by RMB 600, RMB 600 and RMB 800, respectively.

Baosteel will conduct the third round of price hike at the end of this month, mainly focusing on hot-rolled carbon steel products produced by its two subsidiaries, including.