Reportedly, Chinese Tangshan-based Guofeng Steel announced its ex-factory prices for hot rolled coil (HRC) for June on May 25th.
The company decided to cut the ex-factory prices of SPHC HRC with sizes of 3.1mm x 1,010mm by RMB100/ton to RMB4, 400/ton for June orders.
The above prices include taxes and have become effective from May 25th, 2012.