Mon Dec 12, 2011
SHANGHAI Dec 12 (Reuters) - China's Baoshan Iron & Steel will raise prices for some main steel products for January bookings, the company said on Monday, signalling that steel demand may improve at the beginning of the new year.
The company plans to keep hot-rolled coil prices flat but will raise cold-rolled coil by 100 yuan per tonne ($16) and some electro galvanized steel prices by 100-200 yuan per tonne, after it cut main steel product prices by 200-300 yuan in December from November.
The firm, also known as Baosteel, is the country's biggest listed steelmaker and its pricing is often seen as a barometer of China's steel market. ($1 = 6.3647 Chinese yuan)
(sourced Reuters)
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