Friday, June 10,
Leading Chinese steelmaker Baoshan Iron and Steel is expected to cut prices for July delivery of its major steel products by 100-200 yuan ($15-30)/MT.
The prices of hot-rolled products would be cut by 200 yuan compared with June, while cold rolled steel prices would fall by 100 yuan.
The company’s pricing moves usually set the tone for the industry as a whole, and other mills are likely to follow suit as domestic steel demand begins a seasonal decline in the second quarter.
Source: Reuters
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