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| TITLE |
Shagang cuts prices again |
| WRITER |
administrator |
DATE |
2010-05-28 19:00:26 |
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Shagang cuts prices again
May. 28. 2010
According to information from Chinese steel mills, Shagang Group announced to reduce their price again for the second half of May, as certain steel products prices have decreased by RMB150~330/ton.
This is the Shagang’s second cut in half a month that on May 11 that its rebar and high wire rod price was decreased by RMB550/ton and RMB400/ton respectively.
In addition, Hebei Steel also announced new price for June that some steel products have been reduced by RMB200~300/ton.
Chinese steel mills cut their steel prices are mainly because Chinese government is taking some strict laws to suppress hot real estate and Chinese steel supply exceeds demand now.
Source from: Yieh News |
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