- Thursday 2010-03-11 14:55
Baoshan Iron & Steel (BaoSteel) (600019) has raised the April ex-factory prices for steel wire, reports Shanghai Securities Journal, citing information from BaoSteel on March 10.
Most types of steel wire will see a price hike of between 150 yuan per ton to 300 yuan per ton price in April.
BaoSteel did not release information on the price of steel plates in April. It was rumored that the price of steel plates might increase by 300 yuan per ton in April.
According to unnamed analysts, the higher prices were due to higher costs and high demand.
It was reported that the supply of steel plates for automobile manufacturing is falling short of demand at present due to the booming auto market.
According to information from Umetal.net, the price of steel wire and rebar are rebounding on increased procurement.
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