It's reported that Benxi Steel announced to cut the price of steel flat products by RMB50~RMB150/ton averagely for August.
The firm decided to reduce the ex-factory prices of hot rolled (HR) steel plates and coils by RMB150/ton, to cut the ex-factory prices of cold rolled (CR) steel plates and coils by RMB50/ton and to decrease the ex-factory prices of pickling steel by RMB100/ton for August.
However, it remained the ex-factory prices of galvanized steel plates, coated steel plates unchanged.
The prices will become effective from August 1st, 2012.