Due to the upcoming Chinese New Year holiday in February, Baosteel announced its new domestic prices for March yesterday (January 25). Among them, the price of heavy plate, section steel, hot-rolled, and cold-rolled steel were was unchanged, that of hot-dip galvanized steel was hiked by RMB 200/ton, and that of electro-galvanized steel and electrical steel was raised by RMB 300/ton.

China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, said that Baosteel's price adjustment was in line with the market estimate.

Market participants expected that CSC’s new price for March will also follow Baosteel’s upward adjustment.