2/15/2012 12:02:00 PM
NEWS BRIEFS
China’s Baosteel Adjusts Wire Rod Prices

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Improved steel demand prompted China’s Baoshan Iron & Steel to raise its main steel product prices for March, Reuters reports.

“An increase in steel demand in March is expected, and steel mills are eager to lift prices after producing at marginal profits or making losses over the past few months,” analyst Hu Zhengwu told Reuters.



Baosteel will raise hot-rolled coil and cold-rolled coil prices by 150 yuan ($23.83) per ton.



Baosteel reported 2011 net profit fell 43.4%, hit by rising raw material costs.  ©2012 GlobalFastenerNews.com

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