Metallurgy: Steel product prices rise
(Shenzhen Daily)
Updated: 2006-04-28 14:41
China's steel product prices will likely rise gradually in the second
quarter, recovering from a first-quarter slump, the official China Securities
Journal reported Thursday, citing a report by the country's top economic
planning agency.
Prices of key steel products plunged 20.9 percent in the January-March
period, partly due to a glut in the domestic market and a drop in international
prices since late last year, the newspaper said, citing a report issued by a
price-monitoring center under the National Development and Reform Commission.
The price fall is expected to erode the first-quarter profitability of major
domestic steel mills.
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