WISCO adjusts prices

WISCO adjusts prices

SteelOrbis Shanghai China's Hubei province based Wuhan Iron and Steel Company (WISCO) has reportedly adjusted its March prices. According to the adjustment, Wuhan Steel hiked its 3.5-12 mm thick hot rolled coil prices RMB 270/mt ($33) and cold rolled coil prices RMB 230/mt ($29) from its last adjustment dated December 13, 2005. After the price adjustments, ex-factory price of 3.5 mm hot rolled coil of the mill reached RMB 2,870/mt ($356) excluding taxes, and that of 1.0 mm Q195 cold rolled sheet reached RMB 3,800/mt ($471) excluding taxes. Furthermore, it has been reported that Wuhan Steel might abolish the preferential policy for bulky orders. In China's local markets, cold rolled and hot rolled product prices are becoming stable nowadays. Prices in the cold rolled and hot rolled product markets are expected to increase further in the short term.