China Steel Corp (CSC), maintained steel prices from a month ago for June shipments, citing uncertainties in China.
Steel prices in China have been creeping down since the end of the Lunar New Year holiday, indicating a lower-than-expected market sentiment for this quarter, company vice president for sales Liu Jih-gang said.
According to Liu, the second quarter of a year used to be a peak season for the steel market, as construction projects increased.
In China, Baosteel Group Corp recently cut prices, while Wuhan Iron and Steel Corp and Anshan Iron and Steel Group Corp made only minor price adjustments, Liu said.
Liu said Baosteel’s move was more likely to be a correction after the company raised steel prices many times, but China Steel was still cautious.(…)
