Home / Video / Latest Tools: Save | Print | E-mail | Most Read | Comment
Steelmakers pare prices following Baosteel
Adjust font size:

 

More than ten major steelmakers across China cut prices on Tuesday, following the lead of Baosteel, China's largest steel maker by output. Most types of steel dropped 200 to 300 yuan per ton. As the industry leader, Baosteel often sets price trends for the sector.

The Shanghai-based company said its cuts would apply to October and perhaps the entire fourth quarter, depending on demand. Steel price cuts aren't unusual in China at that time of year. Some analysts say they expected prices to rise, as September and October are peak season for steel sales.

Others argue that second-half economic conditions would exert further pressure on steel prices. The first half saw weak nationwide sales of housing, automobiles and home appliances, all major users of steel.

(CCTV August 28, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
Most popular >>
Duke of York: China, UK join hands to fight financial crisis
Obama wins U.S presidency Obama wins US presidency
China displays its most advanced aviation technology
Duke of York: China, UK join hands to fight financial crisis
'Fat and Beautiful' pageant starts in Israel "Fat and Beautiful" pageant starts in Israel
Recommended >>
Madagascar: Escape 2 Africa
Sarah Palin's future
Struggling with obesity
How are Chinese people investing in gold?
China displays its most advanced aviation technology

Product Directory
China Search
Country Search
Hot Buys