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China's Baosteel raises Feb prices, the 2nd increase this year
January 13, 2014 / 8:21 AM / in 4 years

China's Baosteel raises Feb prices, the 2nd increase this year

SHANGHAI, Jan 13 (Reuters) - China’s Baoshan Iron & Steel , the country’s biggest listed steelmaker, will raise its main steel product prices for February bookings, the second increase this year, it said on Monday.

The company will raise prices of hot-rolled coil, mainly for manufacturing, by 80 yuan ($13.22) a tonne, and cold-rolled coil for automaking by 120 yuan a tonne.

Baosteel’s pricing is usually considered to indicate the direction of the domestic market. ($1 = 6.0521 Chinese yuan) (Reporting by Ruby Lian and Fayen Wong; Editing by Tom Hogue)

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