Steel prices cut
By Richard Fu |
June 10, 2011, Friday
|
Print Edition
Print Edition
BAOSHAN Iron and Steel Co, China largest listed steel maker, will lower prices for its major products for July delivery to reflect weakening demand.
The prices for its hot-rolled products would be cut by 200 yuan (US$31) a ton while cold-rolled steel prices will fall by 100 yuan per ton from this month's level, Baosteel said yesterday, without giving base prices.
Shanghai-based Baosteel's latest pricing policy, which is usually seen as a benchmark in the domestic industry, indicates slowing demand from auto and home appliance makers, analysts said.
The prices for its hot-rolled products would be cut by 200 yuan (US$31) a ton while cold-rolled steel prices will fall by 100 yuan per ton from this month's level, Baosteel said yesterday, without giving base prices.
Shanghai-based Baosteel's latest pricing policy, which is usually seen as a benchmark in the domestic industry, indicates slowing demand from auto and home appliance makers, analysts said.
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