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CHINA STEEL WRAP: Steel mills cut prices further in quiet market

February 09, 2012 - 08:23 GMT Location: Shanghai

KEYWORDS: China , steel , prices , rebar , wire rod , hrc , hot rolled coil , raw material

More Chinese longs producers reduced their rebar and wire rod prices on Thursday February 9 in response to the weak spot steel market.

“Another six steelmakers announced a decrease in longs prices by 30-230 yuan ($5-37) per tonne,” a trader in Shanghai said. The price adjustment is in line with the further decrease in spot longs prices. Spot prices continue to fall on Thursday, with rebar prices in Beijing dropping 20 yuan to 4,060-4,200...

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