November 22, 2008

NDRC directs construction steel price freeze

It is reported that 0fficials of the National Development & Reform Commission have asked the major state owned steelmakers such as Baosteel, Angang and WISCO to adjust production structure of galvanized and color coated steel used for constructing movable houses and not to hike the prices in order to support earthquake rescue and relief in Sichuan Province.

National Development & Reform Commission called to stabilize the prices and make contributions to meeting people's needs in the disaster stricken areas. And any speculations aimed at profit making and behaviors against the price control regulations will be punished.

As per report the steel enterprises responded quickly to take action immediately.

China Securities Journal reported in May 25th 2008 that NDRC released an emergent notice on enhancing price control of materials for making rescue tent and transitional houses, in accordance with the state council's disposition and requirement.

(Sourced from MySteel.net)