Major eastern Chinese producers of round steel billet have raised their list prices, the third increase in a row, by Yuan 30-50/mt ($4-$7/mt) for sales over January 1-10, market sources said Thursday.
As a result, prices for 20# 50-130-millimeter rounds sourced from Zenith Steel Group and Changqiang Iron & Steel -- major producers in Jiangsu province -- rose to Yuan 4,230/mt and Yuan 4,180/mt, respectively, for January 1-10 sales, ex-works including 16% value-added tax.
Huaigang Special Steel, another major supplier of round billet also based in Jiangsu, said it would increase its ex-works price for semis by Yuan 50 to Yuan 4,230/mt for January 1-10 sales, ex-works and including VAT.
As a result, list prices of these mills have risen a total of Yuan 130/mt since mid-December last year after having fallen by a total of Yuan 650/mt since the end of October 2018.
On Thursday, offers in Shanghai's retail market for grade 20# 219x6 mm (GB/T 8163) seamless pipes sourced from mills in eastern China were around Yuan 4,700/mt ex-works, including VAT, up Yuan 100 from about 10 days earlier, according to local traders.
