Baosteel cuts HRC prices by $47/ton for December'21

Baosteel has released its monthly flat steel product price list for December'21 reservations. HRC list price decreased by RMB 300/ton ($47), while thick plate prices decreased by RMB 200/ton ($31). CRC and hot-dip galvanized steel prices have decreased by RMB 300/ton ($47). Steel production cuts and weak demand from the energy sub-sectors are thought to have triggered the correction.