Chinese companies reduced August metal prices by fifty dollars

The drop in prices for a steel sheet in China continues and resembles a collapse of prices. The largest companies in China Wuhan Steel and Baosteel in pursuit of the client reduced their prices by almost 10% - an average of 50 USD (300 yuan). Prices are reduced to leaf -rolled and cold -rolled steel, galvanizing and rollene. This decrease in prices did not cause the expected increase in requests from consumers of metal. “Reducing the prices for material from Wuhan still did not reach such a level as to attract buyers in the context of weakening the spot market,” said a trader from Shanghai. Obviously, market participants wait for the prices for steel rental reached their bottom and only after that they will begin to buy. Based on the materials of the site: http://vsepricepi.ru