SHANGHAI, Sept 14 (Reuters) - China's Baoshan Iron & Steel (600019.SS: Quote) said it will lift key product prices by up to 380 yuan ($56.22) per tonne for October bookings.
The company, also known as Baosteel, is the country's biggest listed steelmaker. It made the annoucement on its website (www.bsteel.com.cn) on Tuesday.
Baosteel has annouced plans to raise its hot-rolled coil prices by 300 yuan ($44.39) per tonne, and cold-rolled coil prices by 110-200 yuan per tonne, a move widely expected after it kept September prices unchanged despite a rising domestic steel market.
Baosteel has in the past been the pricing leader that guides the domestic market, and other major companies including Wuhan Steel (600005.SS: Quote) and Angang (000898.SZ: Quote) usually follow. ($1=6.759 Yuan)