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China’s Baosteel keeps February steel prices unchanged

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China’s Baoshan Iron and Steel Corp <600019.SS>, the country’s second biggest producer, will keep the prices of its major steel products unchanged for February delivery, it announced on Tuesday.
The prices of Baosteel’s main hot-rolled and cold-rolled steel products have now been left unchanged for three months in a row, following cuts in October and November.
The Chinese steel market has been struggling with weakening demand growth and chronic overcapacity, as well as a seasonal construction slowdown.

Baosteel’s pricing moves usually set the tone for the industry as a whole.

Source: Reuters

Zhejiang Yaang Pipe Industry Co., Limited

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