CSC September Wire Rod Price May Drop

2012-07-13

China steel giant Baosteel Group Corporation has announced its wire rod prices for August, among which the prices of ultra-low carbon and low carbon wire rod remain at basis prices, and the prices of other products are all lowered by RMB150 per ton. The industry considers, this news brought pressure on Taiwan China Steel Corp. (CSC), whose up- and downstream screw export orders have decreased recently. It is estimated that CSC’s wire rod prices for September, which are going to be announced on July 20th, are doomed to drop.