Baosteel likely to hike its prices for March

The time is approaching for the Chinese steel giant Baosteel to issue its prices for March. According to analysts in China, although domestic steel prices in China have continued to fluctuate on a declining trend since the beginning of January, Baosteel will very likely raise its March prices due to strong downstream demand, rising costs of raw materials, and also as it had previously refrained from increasing its February prices when other domestic producers had raised their prices.