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Baoshan keeps most steel prices unchanged for January

By Richard Fu   (Shanghai Daily)

19:33, December 12, 2011

BAOSHAN Iron and Steel Co, China's largest listed steel mill, kept January prices for most products unchanged, but made some more costly, according to its pricing policy announced today.

Custeel analyst Hu Yanping said as demand from industries like home appliances and autos remained weak, it was difficult for steel makers, which are under cost pressure, to raise prices by large margins.

Baosteel said it would keep hot-rolled coil prices unchanged but raise cold-rolled coil by 100 yuan (US$15.8) a ton and electro galvanized steel prices by 100-200 yuan per ton from December's level.

This came after Baosteel cut prices for main products by 200-300 yuan per ton in December from November.

Baosteel's price adjustments are seen as a benchmark for the Chinese industry.

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