Hebei Iron and Steel announced EXW prices for February day before yesterday.
According to the report prices of most products’ remained unchanged and only for few products’ prices would rise by CNY 50 per tonne to CNY 60 per tonne.
However, HR and CR orders will enjoy a discount of CNY 100 per tonne, which actually decreases EXW prices for these two main categories in flat products.
In other words, Hebei Iron and Steel has become the pioneer in prices reduction for these categories.
Before Hebei Iron and Steel, BaoSteel Angang Bengang and Wugang have already released their pricing policies for February. After BaoSteel announced that it would not change prices for February, Wugang raised prices by declining preferential margins whereas Angang Bengang Shougang and Baotou Iron and Steel increased prices directly.
Analyst Hu Yanping from Joint Metal said "As a steel mill with the second largest output in China Hebei Iron and Steel’s pricing policy may not play a decisive role in pricing policies for others but it would certainly become one of the factors for reference."
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