Ansteel Iron And Steel Group Raises Flat Steel Prices For April 2023
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Ansteel Iron And Steel Group, China’s second-largest steel producer headquartered in Northeast China’s Liaoning province, has announced that it will increase its flat steel list price for April 2023 sales. The decision to raise the prices reflects the current market conditions.
Flat Steel List Price Increase
As per news reports, Ansteel will increase the list price of flat steel by Yuan 300/ton ($43.7/t). The company will raise its Q235B 3.5-15.99mm hot-rolled coil and 1.0mm cold-rolled coil for April 2023 delivery by Yuan 300/t on a month-on-month basis.
Flat Steel Price Increase Reasons
- Strengthening Price Trend- Ansteel’s pricing decision is like that of Baoshan Iron & Steel, which had increased its hot-rolled coil list prices by Yuan 200/t for April 2023 sales. Market analysts believe that Ansteel is tracking the strengthening price trend of hot coils. Mysteel’s latest survey assessed China’s national price of Q235 4.75mm hot-rolled coil at Yuan 4,483/t, including 13% VAT as of 13 March 2023, up by Yuan 269/t on a month-on-month basis.
- Low HRC Stocks- The continuous decline in hot-rolled coil stocks at commercial warehouses has given a boost to market sentiment. The HRC stocks at the 194 warehouses in 55 Chinese cities under Mysteel’s tracking lost 10.5% on a month-on-month basis to 4 million tons as of 9 March 2023.
- High Production Costs- High production costs have lent some support to HRC prices. As of 13 March 2023, Mysteel’s SEADEX 62% Australian Fines were assessed at Yuan $132.45/dmt CFR Qingdao, up by $11.15/dmt CFR Qingdao on a month-on-month basis.
Insight
The strengthening price trend of hot coils, plants’ low HRC stocks, and plants’ high production costs have contributed to the price increase. Ansteel does not disclose the actual list prices in its monthly pricing policy, but only the margin of price adjustment.
Read more: Indian Pig Iron Prices Trending Lowest Of 2023, Further Fall Seems Limited
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