Steel material rebound
Mention by robust transactions since July, the nation's leading
steelmaker, Baoshan Iron and Steel Co Ltd, raised on Aug 13 the
ex-factory price of hot-rolled coils by 150 yuan ($24.5) per metric ton
for September delivery, and the price of other major products was marked
up by 120 yuan a ton. It's the first time the Shanghai-based steel mill
has increased product prices since May. Baosteel, as the company is
known, lowered prices for its main products in June and July on soft
demand, and kept prices unchanged in August. The steel market is showing
signs of a rebound.