Angang Lowered Its July Steel Price

After Baosteel's sharp reduction in product prices last July, Angang also made a sharp reduction.

The first financial daily learned from Anshan Iron and steel company today that the price of Angang's main products per ton was generally reduced by 400~1000 yuan in July, and the price of silicon steel remained unchanged.

Analysis Agency Lange Iron and steel believes that domestic steel market prices will continue to decline, but only in the long quarter of the three quarter of the price may continue to rise expectations, the price will slow down the speed, the specific performance of a small fall down.

The negative factors in the steel market include: seasonal factors of shrinking demand in the summer and rainy season; macroeconomic policies are not so good that investors' confidence is hard to recover; and there is no obvious reduction in production and production, and market inventories are still hard to digest.

Lange Iron and steel information research center senior expert Chen Kexin told this newspaper that the next phase of China's steel market profits and bad factors coexist. If there are extreme circumstances, or a variety of factors are concentrated, steel prices are likely to have wide shocks, or more than 30%.