19 November 2018

Steel makers cut prices for January delivery, paper says

Some steel producers have cut steel prices for January delivery amid weak demand, the Shanghai Securities News reported Friday, citing various companies. Hebei Iron and Steel Group in northern China trimmed its price for deformed steel bars by 70 yuan (US$11.4) per metric ton from December, while Shagang Group in Jiangsu province cut the price of construction-use steel products by 130 yuan per metric ton, the paper said. The China steel purchasing managers index fell to 47.7 points in December, its fourth consecutive month below 50, reflecting sustained contraction in the industry, according to the report.

– Contact HKEJ at [email protected]



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