China's top steelmaker Baoshan Iron & Steel will raise
its main steel product prices for October bookings, the company said on
Tuesday.
The company, usually known as Baosteel, led its domestic
peers in price increases for September bookings in anticipation of improving
demand in the traditional consumption season.
Hot-rolled coil prices will be 60 yuan ($9)/MT higher while
prices for cold-rolled coil prices will go up 50 yuan/MT for basic grade.
However, the China Iron & Steel Association warned that
demand for flat steel products will see little growth in the months ahead,
suggesting major state-owned steel companies may continue to suffer squeezing
profit margins for the remaining course of this year.
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