Date
15 November 2018

Wuhan Steel cuts some prices as demand slows, paper says

Steel giant Wuhan Iron and Steel Co. Ltd. has cut prices of some steel products for November delivery by 50 yuan (US$8.14) per metric ton amid weakening demand, Beijing News reported Monday. But industry leader Baosteel has kept steel prices unchanged for delivery next month. Wuhan Steel’s decision reflects steel producers’ weakening expectations of a recovery in market demand in the fourth quarter, the report said.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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