November 21, 2008

Chinese steel makers reduce wire rod prices

It is reported that steel mills such as Jigang Minyuan Iron and Steel Company, Weifang Iron and Steel Group, Shandong Laigang Yongfeng Iron and Steel Corporation, Qingdao Iron and Steel Corporation reduced wire rod price by CNY 150 per tonne to CNY 200 per tonne. Wire rod products from Beijing market from Shougang, Tanggang also dropped by CNY 50 per tonne to CNY 100 per tonne.

Jigang Iron and Steel Company reduced small deformed bar price by CNY 200 per tonne and CNY 150 per tonne for large deformed bar on. Weifang Iron and Steel Group also reduced its wire rod price by CNY 150 per ton, Laigang Yongfeng Iron and Steel Corporation will reduce CNY 100 per tonne for its deformed bar price. Qingdao Iron and Steel will reduce its deformed bar price by CNY 250 per tonne and CNY 150 per tonne for its wire rod price.