Benxi Steel cuts HR prices
Chinese Benxi Iron and Steel Group announced ex-works price cut in its hot rolled coil products for January deliveries.
The mill reduced its hot rolled coil prices by RMB 500/mt ($62/mt) in average. The new price of the mill for 3.0 mm hot rolled coil dropped to RMB 2,570/mt ($318/mt), VAT excluded.
Baosteel and Wuhan Steel had previously announced price cuts for Q1, 2006.