On November 7, major Chinese steelmaker Baosteel has issued its wire rod prices for December deliveries. The details are as follows (comparisons being with November prices):
1. High carbon wire rod, alloyed cold heading steel wire rod and PC strand base prices have decreased by RMB 200/mt ($31/mt)
2. Spring steel prices have decreased by RMB 200/mt ($31/mt).
3. Prices of the other products are unchanged from November levels.
All the above price changes are effective from December, 2011 and exclude 17 percent VAT
$1 = RMB 6.32