June 10 -- Baoshan Iron & Steel (600019) will cut steel ex-factory prices by 100-500 yuan per ton in July, reports China Securities Journal. All prices mentioned below are per ton.

The price of three-millimeter hot-rolled steel will fall 200 yuan to 5,002 yuan; acid pickling steel will decline 100 yuan to 5,157 yuan; SPCC cold-rolled steel will fall 100 yuan to 5,196 yuan; electrogalvanized steel will fall 100 yuan to 6,717 yuan, while non-oriented silicon will fall 500 yuan to 6,340 yuan.

According to Ex-Custeel’s analyst Hu Yanpin, the price drops are in line with the coming low season for home appliance and car sales.

Source:capitalvue