Due to the soaring iron ore and coking coal prices, global steel mills are facing their costs being more than doubled, bringing the downstream steel users serious pressure from the high steel prices. Therefore, most developing countries have started to consider measures for controlling the rising steel prices to avoid the inflationary pressure and other [...]

China’s Baosteel announced the price policy for April delivery on February 8th. The company has decided to increase the prices of high carbon steel and steel cord by RMB100~RMB200/ton and that for its other products have remained unchanged. According to the new price policy, the prices of steel cord wire have soared by RMB200/ton; that [...]

Reportedly, China’s steel industry has suffered from the raising prices of imported iron ore. The statistics showed that steel industry’s profits ratio was 2.91% in 2010 which was much lower than the 6.2% averaged level of national industrial enterprises. It’s known that China’s import prices of iron ore increased by 61% to US$145/ton in the [...]

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, [...]