Baosteel changed its mind to raise wire rod price in April

China's leading steelmaker Baosteel said it was not ready to raise its wire rod price in April. Thus, the cost of these products will remain unchanged for the 9th month in a row.

Despite the outlined revival, the steel market in China remains weak. According to traders, the fact that prices have been avoided is already an achievement of Baosteel.

Industry sources, meanwhile, indicate that the rebound in the auto industry, supplied by Baosteel, will be more conducive to price increases.