According to report,China's steel giant Baosteel said today that it will increase steel prices for February on higher raw material costs and strong outlook for steel demand.This accouchement may encourage other large steel mill to raise the price as well.The company will hike hot rolled coil prices by about RMB160/ton and CRC prices by RMB 120/ton.Other steel products,such as hot-dipped galvanized and electrical steel will rise by RMB 80~RMB120/ton for February.The iron ore price has rose more than 30%in December,reaching the highest in one year.And China's economy is expected to be strong especially in March and May and also support the price rise.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62395&division=A2
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