Baoshan Iron and Steel, the listed unit of China's largest steel maker, has raised its prices for key steel products for February from the prior month, halting a five month slide in prices.
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Baoshan Iron and Steel, the listed unit of China's largest steel maker, has raised its prices for key steel products for February from the prior month, halting a five month slide in prices. |
Key hot-rolled steel products went up by 100 to 200 yuan a ton, and key cold-rolled products rose by 300 yuan a ton. Baosteel's prices are considered the benchmark in China.
Earlier this week, several other Chinese steel mills also raised product prices. Sentiment had finally steadied after months of declines due to weakening demand in a slowing economy.
(CCTV December 26, 2008)
