China’s Ansteel and WISCO announced to slash their steel prices by about RMB300-500/ton in November due to stagnant market.

It is believed that the profit margin for these mills will be dropped widely then. Ansteel has decreased RMB300/ton from previous HRC and CRC price.

WISCO has cut their steel price widely, such as CRC, silicon steel and CRNGO. The company’s CRC price is being quoted at RMB4,500/ton, while CRC silicon steel 50WA800 is sold by RMB5,320/ton.

Source: Yieh.com