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| TITLE |
China's top 3 steelmakers cut August prices |
| WRITER |
administrator |
DATE |
2010-07-19 19:41:28 |
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China's top 3 steelmakers cut August prices
Mon. 19 July. 2010
China’s top three steelmakers, Baosteel, Wisco, and Angang, have announced to reduce their prices for August by RMB 200~450/ton according to different products.
Prices of some products have even dropped to the record lowest this year.
Steel traders said that prices will keep falling due to oversupply and high stock level, and thus steelmakers cannot help but cut production to stabilize prices.
Reportedly, some steelmakers, such as Wisco, Tanggang, and Angang, will slightly cut their outputs in August due to scheduled maintenance.
Source from Yieh Corp. |
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