It's reported that Chinese Xiangtan Steel announced its price policy for the second half of February.
The company decided to cut the ex-work prices of drawing wire rod by RMB200/ton. The latest ex-work prices of BL1 drawing wire rod with diameter of 6.5mm are at RMB4, 480/ton.
Meanwhile, it declined the ex-work prices of quality wire rod by RMB100/ton. Thus, the new ex-work prices of 45# quality wire rod with diameter of 6.5mm come to RMB4,550/ton.
Besides, the company decreased the ex-work prices of cold heading steel by RMB150/ton. The ex-work prices of 6A cold heading steel with diameter of 6.5mm are at RMB4, 660/ton.
Also, it cut the ex-factory prices of alloy structural steel and gear steel by RMB30/ton respectively.
However, it remained the ex-work prices of carbon structural steel unchanged.
The above prices include taxes and have become effective from February 16th, 2012.