Chinese steel producers to decrease domestic steel offers in April

Chinese steel goliath Baosteel Group has recently announced that it is planning to reduce its May steel offers, valid from April 1 on. The discount will be RMB 500/mt ($76/mt) in wire rod offers. The company had cut down its steel offers on March 1 as well.
 
China's Shougang Steel Group has also announced a RMB 480/mt ($73/mt) reduction in its wire rod offers and a RMB 360/mt ($55/mt) discount in its rebar offers for April.