Baosteel to keep prices stable
Despite the fall in the steel prices in
China's major markets, Baoshan Iron and Steel Co Ltd,
China's largest steelmaker, announced that it would keep third-quarter prices of its main product lines stable.
Reportedly, one of
Baosteel's primary goals is to resist pressures to lower the prices on its high-end products used by
automotive and home appliance manufacturers. The company will also attempt to keep the prices of its low-end products stable unless a sharp decrease in demand occurs.
Baosteel, which revises its prices quarterly, last raised prices 10% for the second quarter.