December 02, 2008

Masteel reduced ex work price of H sections for August

Masteel announced that its ex work price of H-sections for August on July 21st and the price decreased.

Price of 200x200H reduced CNY 200 per ton to CNY 4820 and CNY 5639 per tonne including taxes. Price of 400x400H reduced CNY 50 to CNY 5570 per tonne and CNY 6517 including taxes.

One merchant in Shanghai said the sales since July dropped due to the high temperature impacts the project construction and the tight capital pressure of downstream enterprises.

Market price of small sections in Shanghai dropped recently, price of 200x200H dropped by CNY 50 per tonne than July 9th and the mainstream price was CNY 5550 per tonne and some offered the price of CNY 5550 per tonne. Market price was still higher than ex work price even steel mills reduced price.

Therefore, merchants are not willing to sell goods in low price. Some merchants believe price this week will drop again and they are eager to collect capitals during the order time.