From Chinese Media

Steel prices drop on low demand

Updated: 2011-06-20 17:04

By Song Jingli (

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China's steel prices declined nationwide last week, reported Monday, citing Xiben New Line Stock Co Ltd, a domestic steel spot trading platform.

Steel prices dropped by 70 yuan a ton during the week beginning June 13 in Shanghai, according to Xiben. On June 17, steel prices dropped to 4,830 yuan a ton in Shanghai.

Related readings:
Steel prices drop on low demand China stainless steel demand to grow 5-7%
Steel prices drop on low demand China's crude steel demand to hit 750m tons
Steel prices drop on low demand China May steel output hits record but daily rate falls
Steel prices drop on low demand CISA suggests establishment of iron ore reserves

Steel prices increased but then quickly dropped later last week to 5,110 yuan a ton, the same as the level of the previous week.

Steel prices dropped to 5,280 yuan on June 10 in Guangzhou.

The volatile market is likely linked to steel mills cutting prices and a decline in some raw material prices, Xiben reported.

Steel mills such as Baosteel and Anshan Iron and Steel have cut prices for products to be delivered in July by 70 yuan to 200 yuan a ton, and steelmakers' profit margins shrank further.

Although prices were lower, trading was inactive due to rainy weather in Shanghai last week and a wait-and-see attitude by most customers.


Mom’s the word

Italian expat struggles with learning English and experiences the joys of motherhood again.

Big win

After winning her first major title, Chinese tennis star could be marketing ace for foreign brands

Markers of memories

Axe comes down on historical buildings as part of Harbin government’s baroque programs

Suzhou: Heaven on Earth
The sky's the limit
Diving into history