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Reportedly, Wuhan Iron and Steel Corp. (Wisco) announced to cut the ex-factory prices for its steel products by RMB100~RMB200/ton averagely for September.Also, Wisco has reduced its steel prices for consecutive three months.It's known that the firm reduced the July ex-factory for most of its steel products by RMB150~RMB300/ton for July and it cut the prices further by RMB100~RMB200/ton for August.However, industry insiders expected that the steel prices might recover in the near short term since the demand would be released in September when the weather turns better.