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Buoyed by robust transactions since July, the nation's leading steelmaker, Baoshan Iron and Steel Co Ltd, raised on Aug 13 the ex-factory price of hot-rolled coils by 150 yuan ($24.5) per metric ton for September delivery, and the price of other major products was marked up by 120 yuan a ton. It's the first time the Shanghai-based steel mill has increased product prices since May.
Baosteel, as the company is known, lowered prices for its main products in June and July on soft demand, and kept prices unchanged in August.
The steel market is showing signs of a rebound.
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