Companies

Wuhan Steel to keep Nov steel prices unchanged

(Agencies)
Updated: 2010-10-15 16:39

China's Wuhan Iron & Steel Co Ltd said it will keep prices of key products unchanged in November, a move widely expected by domestic market.

China's third-largest steel producer said the pre-tax price of hot-rolled coil was 4,260-4,400 yuan ($640.60-$661.80) per ton, and cold-rolled coil was 5,250 yuan per ton.

Related readings:  China steel output up on production restart: CISA  Demand for steel to slow  Shangang cuts price of its steel products

Wuhan Steel is the second mill to announce November prices after pricing leader Baoshan Iron & Steel Co Ltd announced on Monday that it would leave key product prices unchanged.

Chinese domestic steel prices have eased marginally since the middle of this week, following a fast rise after the long national holiday.

The benchmark rebar futures contract on the Shanghai Futures Exchange SRBK1 ended Friday morning at 4,460 yuan per ton, down from the previous close of 4,474 yuan per ton.