Baosteel plans to cut the price of ship-building plate for July shipment around RMB230/ton (US$37/ton). Meanwhile, market participants also predict whether Baosteel would cut the price of HR and CR by the same level for July shipment. Considering the strong demand from the automobile industry, it is estimated that Baosteel would not adjust its steel sheet prices for the auto industry. Moreover, according to the statistics issued by the China Iron and Steel Association(CISA), the Chinese steel plate price went down by about USD27/ton in May.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64838&division=A2
