Baosteel raises steel forward prices for June

   The price of wire rod products will go up from 300 yuan/ton to 500 y/t, and that of steel tube products up from 100 y/t to 300 y/t.

   It maintains the prices for such main products as hot rolled, cold rolled, color-coated, hot dip galvanized, full hard coil, and slab.

   According to Zhou Tao, an analyst from SINOLINK Securities Co. Ltd., the price adjustment is moderate, taking into consideration the affordability of downstream enterprises.

   Baosteel earlier raised the forward prices of its mainstream products for May, with the increasing rate exceeding the growth of raw material prices.

   The adjustment reflects the stable market demand on steel in China, according to Zhou.