Wuhan Iron raises steel costs for April
By Pan Xiaoyi |
March 17, 2010, Wednesday
|
Print Edition
Print Edition
WUHAN Iron and Steel raised April prices for major products by up to 7.7 percent as it expects higher term ore prices to result from talks between Chinese mills and overseas suppliers.
It raised prices for hot-rolled coil for April delivery by 300 yuan (US$44) a ton, or 7.7 percent, from March, while prices for cold-rolled products also rose 300 yuan, or 5.6 percent, China Securities Journal reported yesterday.
The firm's move came after Baoshan Iron and Steel raised April prices for some products by up to 300 yuan.
"The ore miners are sticking to their larger-than-expected term ore price hike in the annual iron ore price negotiations," said Wang Pan, an analyst of Xiangcai Securities Co.
"It's no surprise that steel mills raised the prices in advance to pass the increasing costs to its customers."
The iron ore negotiations are scheduled to be concluded on April 1.
Anglo-Australian miners Rio Tinto and BHP Billiton are sticking to a rise of 40 percent while Brazilian Vale reportedly wanted a jump of as much as 90 percent. The higher prices will be beyond Chinese mills' capability to break even as they expected a maximum 30 percent rise.
It raised prices for hot-rolled coil for April delivery by 300 yuan (US$44) a ton, or 7.7 percent, from March, while prices for cold-rolled products also rose 300 yuan, or 5.6 percent, China Securities Journal reported yesterday.
The firm's move came after Baoshan Iron and Steel raised April prices for some products by up to 300 yuan.
"The ore miners are sticking to their larger-than-expected term ore price hike in the annual iron ore price negotiations," said Wang Pan, an analyst of Xiangcai Securities Co.
"It's no surprise that steel mills raised the prices in advance to pass the increasing costs to its customers."
The iron ore negotiations are scheduled to be concluded on April 1.
Anglo-Australian miners Rio Tinto and BHP Billiton are sticking to a rise of 40 percent while Brazilian Vale reportedly wanted a jump of as much as 90 percent. The higher prices will be beyond Chinese mills' capability to break even as they expected a maximum 30 percent rise.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
