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Newsflash : Steel prices cut
Friday, 10 June 2011 00:00


BAOSHAN Iron and Steel Co, China largest listed steel maker, will lower prices for its major products for July delivery to reflect weakening demand.

The prices for its hot-rolled products would be cut by 200 yuan (US$31) a ton while cold-rolled steel prices will fall by 100 yuan per ton from this month's level, Baosteel said yesterday, without giving base prices.

Shanghai-based Baosteel's latest pricing policy, which is usually seen as a benchmark in the domestic industry, indicates slowing demand from auto and home appliance makers, analysts said.