BAOSTEEL LEFT NOYABRSK steel prices SAME
Leading Chinese steel company Baoshan Iron and Steel (Baosteel) has no plans to change the November prices of the main range of steel - r / c and x / c coils.
Traditionally pricing Baosteel is `benchmark #39;for the entire steel industry of China.
As previously reported, another leading steelmakers Wuhan Iron Steel raised its prices in November g / rolls to 150 yuan ($ 24) per tonne and x / c rolls by 100 yuan per ton
Baosteel decision not to raise prices was a surprise for the market, because since the beginning of September and beginning of October, steel futures on the Shanghai Stock Exchange rose 15%, reaching a 2-month high. The growth of steel prices in China came amid increasing expectations casual steel.
At the same time, in late September, Baosteel announced the temporary suspension of the Steel Plant in Shanghai capacity of 3 million tons of steel a year due to heavy losses.
