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China steelmakers raise Jan hot-rolled prices

Author:ADMIN    Source:OUR SITE    Hits:   Date:2008/12/25 【FRONT SIZE:BIG MIDDLE SMALL】 

SHANGHAI, Dec 23 - Several Chinese steelmakers have raised their January prices for hot-rolled steel products, the official Shanghai Securities News reported on Tuesday.

Angang Steel Co <0347.HK> <000898.SZ>, Beijing Shougang Co <000959.SZ> and Shagang Group are among those that have raised prices, it said, although it did not mention price moves by the industry leader, Baoshan Iron & Steel Co <600019.SS>. It said Angang's pricing for January included a 350 yuan ($51.10) a tonne price increase for low-carbon hot-rolled steel, while its cold-rolled steel price was raised by 230 yuan a tonne. It quoted analysts as saying that traders had not started to build stocks for the winter but sentiment remained dull and there did not seem to be strong momentum for price rises.

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