According to report of Reuters, Chinese Baosteel announced on Monday that it would hike its prices of main steel products for next January orders, showing that the steel demand would improve in the beginning of 2012.
The firm will raise the prices of cold rolled coil (CRC) and electro galvanized steel by RMB100/ton and RMB100~RMB200/ton for next January; while, it decided to remain the prices of hot rolled coil (HRC) unchanged.
Meanwhile, it's known that Chinese industry output growth reached the slowest pace in more than two years in November, reflecting the world's second largest economy is slowing.