Baosteel Increases Pricing For April As Demand Increases

Chinese steel manufacturer Baosteel increased all base rates for April in light of the reduced production margin. The largest pressure on companies has been coming from rising raw material prices since February or March, which has led to greater production costs than sales prices.

The market inventories for China's manufacturing and infrastructure development are still low, and the need for replenishment is still significant. Although real demand in April may substantially support the market trend, it is predicted that demand growth in 2023 will be 4.2%.

Participants in the market thought that the buying trend from March to April would gradually rebound and climax in April.

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address:Tianjin , China

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