8/16/2010 11:57:00 PM
NEWS BRIEFS
China Steelmakers May Hike Prices

After cutting output to stabilize prices in July, Chinese steelmakers are poised to hike prices in September, the China Securities Journal reported.

Analysts say the steel market has rebounded in recent weeks, prompting OEMs to increase orders.

Baosteel and other major mills are predicted to begin a new round of price increases, reportedly influenced by the secondary market price rebound and rising raw material costs.

Baosteel held August prices steady, though analysts had forecasted prices cuts of 200 (US$29.50) to 300 yuan.  ©2010 GlobalFastenerNews.com