Baosteel reduces prices
Source: Bloomberg News |
June 12, 2012, Tuesday
|
Print Edition
Print Edition
BAOSHAN Iron and Steel Co, China's biggest publicly traded steel maker, cut prices as demand from makers of appliances and cars slowed.
Prices were cut by 400 yuan (US$63) a ton for July delivery, the Shanghai-based company said in a statement yesterday. Most hot-rolled and cold-rolled products were cut by 200 yuan a ton. Baoshan had raised prices by 100 yuan in January and 200 yuan in March and kept most grades little changed in the other months this year.
Steel prices in China, the world's biggest producer and user of the alloy, have fallen for eight straight weeks.
Prices were cut by 400 yuan (US$63) a ton for July delivery, the Shanghai-based company said in a statement yesterday. Most hot-rolled and cold-rolled products were cut by 200 yuan a ton. Baoshan had raised prices by 100 yuan in January and 200 yuan in March and kept most grades little changed in the other months this year.
Steel prices in China, the world's biggest producer and user of the alloy, have fallen for eight straight weeks.
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