On July 13, Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) announced sales prices for its steel products for August delivery, making downward adjustments for nearly all its products compared to July price levels.
1. HRC prices have been cut by RMB 300/mt ($44/mt).
2. HRS prices are down by RMB 200/mt ($30/mt).
3. The price of wire rod has dropped by RMB 300/mt ($44/mt).
4. CRC prices are down by RMB 300/mt ($44/mt).
5. HDG prices have decreased by RMB 300/mt ($44/mt).
6. The prices of section steels remain unchanged.
7. The prices of non-oriented silicon steel have been lowered by RMB 500/mt ($74/mt).
8. PPGI prices have been reduced by RMB 300/mt ($44/mt).
The new prices will be effective from July 14, and final prices are subject to confirmation by WISCO.
$1 = RMB 6.77