China metallurgists raise steel prices

According to representatives of Chinese metallurgical companies Wuhan Iron and Steel Group and Anshan Iron and Steel Group, steel products for deliveries in September will be increased.

Wuhan Steel increased prices for almost all its products by 200-800 yuan/tons ($ 29.4-117.6), Anshan Steel metal rolls will rise in price in September by 350-1000 yuan/tons.

As you know, previously, contrary to the expectations of the market, the large Chinese metallurgical company Baosteel announced its intentions to maintain prices for hot -rolled and cold -rocked steel without changes.

"Anshan Iron & Steel Group Co" is the second largest manufacturer of steel in China. The annual production of steel is approximately 15.3 million tons.

The company "Wuhan Iron and Steel Co" is considered the third largest manufacturer in the PRC. She is engaged in the release of hot rolled and cold rolled rental, slabs and galvanized steel. The annual production volumes of the company reach approximately 13.8 million tons.

Source: Reuters

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