China's Baosteel keeps wire rod prices unchanged for Jun
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Update time : 2022-05-13 22:04:50
Baosteel, a major steel mill in China, announced to keep all the wire rod prices unchanged for June.
According to the World Steel Association (worldsteel), the forecast of steel demand will have different results due to the uncertainty of Russia-Ukraine war. If the war ends, the sanctions from US and Europe might still last. In addition, China will not reduce its steel demand. If China cancels the lockdown for the epidemics, it is expected the steel demand will rebound.
Taiwan's China Steel Corp. (CSC) is expected to keep its domestic prices flat for June as well and it will announce new prices on May 16. After Baosteel's new price announcement, Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) will announce new prices soon.
