Chinese Baosteel has already raised prices for March metal rolling

The largest Chinese metallurgical company Baoshan Iron & Steel (Baosteel) said that on March 2013 new, higher prices for metal products were approved. Given the fact that this is the fourth consecutive increase in prices, and since the last rise in price only a week has passed, we can safely talk about the formed trend in price growth in the Chinese steel market.

Without bothering the increase in the cost of metallurgical raw materials, as last time, Baosteel managers directly stated that the prices for metal rolling are growing due to the growth of demand and increase the number of orders.

The company announced that it would increase the prices of a hot rolled roll and a cold roll roll from 20 to 40 dollars/ton. According to the analyst Du Hui from Qilu Securities, "Baosteel received a large number of customers' orders in the last month, and saw signs of demand restoration in this. Baosteel prices are a barometer for the steel industry of China, it is expected that other steel factories, such as Wuhan Steel and Angang And even more will raise their prices. "

The Chairman of the Central Committee of the Communist Party of the PRC Hu Jintao noted that orders in industry have grown over the past two months, and it must be taken into account that now there should be seasonally the lowest demand, which is traditionally growing in the spring, moving in the high season for construction and manufacturing.