It is reported that Baosteel has decided to cut the domestic prices of 300 series stainless steel products for December 2011 shipment in response to slack spot market.

Also, the company will decrease the domestic prices of 400 series cold rolled coil by CNY 200 per tonne for December 2011 shipments.

In addition, the firm decided not to offer any discount for December deliveries.

It is said that Baosteel will decline its stainless steel production by 10,000 to 20,000 tonnes in December 2011.

(Sourced from www.yieh.com)