Compared to the October pricing policy of Wugang steel, its November pricing policy released on October 15 has remained generally the same, with the only exception that the price of silicon steel is increased by CNY 100 to CNY 200 per tonne.
Influenced by China’s gloomy steel market, lots of mid and small scaled steel mills have recently decreased the factory price of November. At the same time, pricing policies released by Baosteel, Shagang steel and Hebei Steel Group recently have remained unchanged on the level of October.
A market player said “The continuous falling of the price of construction steel and the frequent bottom price has really weakened market confidence. Therefore the recent retail price is even at the same level with the purchase price.”
Irrational boom of China’s steel market in previous period due to the influence of the energy conservation policy has also undoubtedly contributed much to the recent gloom and wait and see attitude.
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