Major steel producers continue to cut prices v6

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PostPosted: Mon Jan 09, 2012 5:34 am    Post subject: Major steel producers continue to cut prices v6 Reply with quote

Major iron makers continue to mowed amounts By Zhang Qi (China Daily),louis vuitton
Updated: 2011-06-23 11:14 2011-06-23 11:14:17.0Zhang QiMajor steel producers continue apt cut pricesChina,steelmaker,iron price11022002Companies2@webnews/enpproperty-->
BEIJING - China's essential steelmakers continued apt mowed July allocation costs on Wednesday. Companies began lower prices aboard June 17,surrounded expectation of slowing market claim.

Eight Chinese steelmakers tore the price of their productions aboard Wednesday for July allocation,subsequently 27 mills diluted costs aboard Tuesday,sac hermes, following aboard from cuts by 21 others aboard Monday,モンクレールメンズ,onward to data from the consultancy

Leading steelmakers, such as Baoshan Iron & Steel (Baosteel) Co Ltd and Anshan Iron and Steel Group,louis vuitton pas cher, have cut prices for products to be conveyed within July by 70 yuan ($11) to 200 yuan a ton. "As the rainy season namely a loose duration as iron products meantime construction, which accounts as 45 percentage of iron consumption, slows down, it puts oppression aboard iron amounts and even iron mineral amounts said Guo Yi,an critic at Mysteel.

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Brazil mineral fines with an iron mineral content of 63.five percentage were sold at between 1,260 and 1,270 yuan a ton, including freight,aboard Wednesday at Qingdao pier down from 1,270 apt 1,doudoune moncler,280 yuan a ton aboard Tuesday, and from 1,320 yuan per ton a month earlier,along to Mysteel's data.

Domestic mean steel indexes reached 174.eight on Wednesday, down 1.24 percent from the previous week, and a decline of 1.41 percentage from a month ago as a result of sluggish market claim.

China's steel inventory within May fell 5.two percentage from a month earlier, the China Iron and Steel Association said within a statement on its website aboard Monday.

Steelmakers may face surging raw material costs and tightening monetary policy, the association said.

"The accumulative decline surrounded steel prices will squeeze Chinese steelmakers' profits, and pressurize crude material costs which may beyond lower steel prices with the possibility of a decline by 300 apt 400 yuan a ton within the hereafter said Guo.

"This ambition also influence production. We forecast to perceive steel production decline afresh aboard weaker steel amounts he said.

Chinese crude steel production rose 7.eight percent to 60.two million tons in May from a annual earlier.
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