Shougang Steel lowers ex-works price of CRC and HGI for February (28/01/2015) Google Bookmarks

        Chinese steelmaker Shougang Steel announced to cut ex-works prices of CRC and HGI coil for February production. The policy is based on the poor market performance in China and weakening demand from customers.

          A source from Shougang Steel reports that the ex-works price of CRC decreases by RMB175.5/t (USD28/t) and RMB117/t (USD19/t) respectively in North China and other regions. In addition, the ex-works price of HGI coil is RMB93.6/t (USD15/t) lower in the national wide.

        The source complains that the domestic market performed worse recently. “Prices of CRC from Shougang Steel dropped by around RMB100/t (USD16/t) in East China in the past week,” he says, adding that, at the same period of time, the price of HGI coil from Shougang Steel went down by RMB150/t (USD24/t) in South China. As the traditional long holiday for Chinese Lunar New Year is coming, the demand from downstream consumers will continue to shrink, so that Shougang Steel lowers prices accordingly to attract orders.

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