Chinese steel giant and price benchmark setter for SEA, Baoshan Iron & Steel announced that it will raise its main steel product prices for March, it said on Friday.

As per report BaoSteel will raise hot rolled coil price and cold rolled coil by CNY 150 per tonne (USD24), after the company kept prices flat for February.

Analysts expect a seasonal pick-up in steel demand to encourage steel mills in the world's largest steel producer to lift prices, but uncertainties in the marco economy could stifle hopes of any big price spike in the domestic market.

(Sourced from Reuters)