Steelmakers raise prices again
By Zhang Qi | China Daily | Updated: 2011-02-16 07:51
Increase in the cost of raw materials now being passed on to customers
BEIJING - China's major steelmakers raised prices for a third straight month as downstream demand became stronger and raw material prices continued to rise.
Baoshan Iron & Steel Co, the nation's largest publicly traded steelmaker, raised prices for hot-rolled products by 300 yuan ($50.85) a ton and cold-rolled prices by between 260 and 300 yuan a ton, backed by strong demand from the automobile and construction industries. Baosteel supplies half of China's automotive steel.
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