Metal Products News
- Baosteel keeps steel product prices unchanged
Date: 24-Nov-2006 Sources: (Shenzhen Daily)
BAOSHAN Iron & Steel Co. Ltd., the listed arm of China's largest steel maker, will leave major steel product prices for the first quarter of 2007 unchanged from the fourth quarter of this year.
The price of hot-rolled steel products would be flat at 3,742 yuan (US$468) a ton, the company said on the Web site of its sales unit Thursday. The price of cold-rolled steel would stay unchanged at 4,596 yuan a tonne, it said. Baosteel reported in late October a 42-percent jump in third-quarter earnings, exceeding analysts' forecasts, after it raised key steel product prices for the quarter. But the company has said scheduled maintenance, low product prices and relatively high freight costs could reduce its earnings in the fourth quarter compared with the second and third.
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