China’s Baoshan Iron and Steel Corp, the country’s second biggest producer, will keep the prices of its major steel products unchanged for February delivery, it announced.
The prices of Baosteel’s main hot-rolled and cold-rolled steel products have now been left unchanged for three months in a row, following cuts in October and November.
The Chinese steel market has been struggling with weakening demand growth and chronic overcapacity, as well as a seasonal construction slowdown.
Baosteel’s pricing moves usually set the tone for the industry as a whole.
Source: Reuters
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