June 17 – Wuhan Iron and Steel (WIS) (600005) filed that it has slashed July prices of all produces except for wires used for construction, reports Shanghai Securities News.
WIS reduced hot rolled steel prices by 100-150 yuan per ton and non-oriented silicon steel by 200-400 yuan per ton. It lowered cold rolled steel prices by 400-500 yuan per ton.
Baoshan Iron and Steel (600019) and Angang Steel (000898) recently cut prices of their own primary products.
China's steel prices have fallen as downstream sectors, particularly automobiles, home appliances and machinery, have seen a drop in orders.