| Reportedly, China’s Baosteel has decided to increase its steel prices by RMB300/ton to reflect the sharply rising raw material costs, Reuters reported.
It’s known that the prices of hot rolled coil have increased by RMB300/ton; that of cold rolled coil has soared by RMB260~RMB300/ton. The company indicated that the current strong demand from downstream buyers, shortage of coking coal in Australia and India’s ban on export of iron ore were all the causes for the price hike. |
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