Last Updated :
18 November 2009 at 11:30 IST
China’s Angang Steel raises December prices
BEIJING (Commodity Online) : One of China’s top steel producers, Angang Steel Co Ltd said it will increase prices of its major steel products for December.
In a statement, the company said hot-rolled steel product prices will be 300 yuan per ton higher in December than the current prices.
Its cold-rolled steel product prices will be 400 yuan per ton higher. Steel plate and silicon steel prices will be increased by 200 yuan per ton.
Despite the steel surplus in China, domestic steel mills including Baoshan Iron and Steel Co Ltd and Wuhan Iron and Steel Co Ltd have also raised steel prices for December.
Industry insiders say the reason is that the prices of raw materials such as coal, which becomes more expensive in winter, have gone up.
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