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Metal and steel companies lead decliners in Shanghai stock trading
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THE benchmark Shanghai Composite Index edged down 0.29 percent to 2,311.68 points today, due to the fall in non ferrous metals counters.
According to the report released today by the Shanghai Metal Exchange, all non ferrous metals products traded there saw a decline in prices, which added pessimism to the non ferrous metals companies.
Baoji Titanium Industry dropped 3.77 percent to 18.10 yuan (US$2.97), while Anhui Xinke New Materials lost 2.95 percent to 14.16 yuan.
The Producer Price Index, released today by the National Bureau of Statistics of China, fell a 1.2 percent in August year-on-year, with steel prices generally declining.
Nanjing Iron & Steel lost 3.88 percent to 2.23 yuan, while Xinyu Iron & Steel was down 3.22 percent to 3.61 yuan.
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