June 22 – A total of 27 Chinese steel makers lowered prices of either steel materials for construction or plates used in automobiles, reports the Beijing Times.

Jiangsu Shagang Group reduced the price of deformed steel bar and valve snails by 50 and 80 yuan per ton, respectively.

Prices of medium plates, hot rolled steel and cold rolled steel produced by Heibei Steel Group were lowered by 100 and 200 yuan per ton.

Construction and industrial industries have recently entered the conventional low season, leading steel producers to slash prices.

Share of Baoshan Iron and Steel (600019) fell 0.51 percent to close at 5.86 yuan per share today.