CSC steel prices go off scale for June orders

China Steel Corporation is raising steel prices from last month for June shipments, citing uncertainty in Chinese sentiment. Liu Ji, the company's vice president of sales, said that “Steel prices in China were sliding down as the end of the Lunar New Year was pointing to lower-than-expected market sentiment in the first quarter.

The second quarter of the previous year was the peak season for the steel market as the number of construction projects increased. Liu said that “In China, Baosteel recently cut prices, while Wuhan Iron and Anshan made only minor price adjustments. - still careful. "

Meanwhile, China Steel hopes that the company will be able to introduce product price increases for June contracts, and will make decisions based on global competitiveness in the future as part of its pricing strategy. Despite declining steel market sentiment, preliminary data showed the company had orders of 3,080,000 tonnes this quarter, up from its earlier estimates of 3,060,000 tonnes. This result represents an upward bias of 3.36 percent from 2.980 thousand tonnes of steel sold in the previous quarter.