Baosteel declines prices of steel products
Published: 02 Apr 2009 00:59:41 PSTApr.2MetalBiz--Baosteel will cut prices of major hot-rolled steel products by 250 yuan per ton, and cold-rolled steel products by 200 yuan ($29.27) in May.
The reduction of price is equivalent to 7% on hot-rolled steel and 5% on cold-rolled products, according to a Reuter's calculation.
After the decrease, prices for hot-rolled steel products will be 3,292 yuan ($482) per ton, and prices for cold-rolled steel products will be 3,826 yuan per ton.
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