Baoshan Iron and Steel, a big producer of flat steel, said it will cut prices of its main products for December bookings, after keeping them steady this month.
It would be the first time Baosteel, China's biggest listed steelmaker and the domestic industry's price-setting leader, would slash prices since May, which was the first reduction in nine months.
“Some railway projects are being revived recently so the outlook for construction steel like rebar and wire rod doesn't look that poor at the moment,” said the Shanghai trader.
Leave a Reply