Anshan I/S Held Hot-Rolled Coil Price Steady, Shougang Narrowed Price Cut

SHANGHAI, Jun. 19 (SMM) – Anshan I/S and Shougang Group released their ex-works prices for hot-rolled coil in July. Anshan I/S kept its price flat at June’s level, while Shougang lowered price by RMB 60/mt with the price cut narrowing from the previous RMB 150/mt. The price gap between the ex-works prices and market prices were RMB 150-200/mt. Steel mills were relatively tough compared with policies during the past few months due to the following reasons. First, the maintenance of Liuzhou I/S eased competition in south China, allowing traders to order goods as scheduled. Second, steel mills planned to make full use of its subsidiaries responsible for spot trades, and these subsidiaries will act as traders when purchases by traders fell.