Friday, 11 Nov 2011
China's Baoshan Iron & Steel will cut its main product prices for December bookings, a move reflecting the weakness in steel demand in the final month of 2011.
The company plans to slash hot-rolled coil prices by CNY 200 per tonne (USD 32) and cold rolled coil prices by CNY 300 per tonne (USD 48), after it kept its main steel product prices unchanged in November from October.
Baosteel pricing is often seen as a barometer of China's steel industry.
(Sourced from Reuters)
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