Reportedly, Chinese steel giant Baosteel announced to cut its list prices for July due to weak demand.
The company decided to reduced its list prices of hot rolled and cold rolled steel, coated steel by RMB200/ton respectively, and to cut the list prices of pickled steel, hot dipped galvanized steel and electrical galvanized steel by RMB100/ton respectively.
However, the steel giant remained the list prices of silicon steel unchanged for July.