Reuters reported that China Wuhan Iron and Steel will cut its major hot rolled and cold rolled steel product prices by CNY 300 in August.
China third biggest steel producer said the pre-tax price of its main 3 mm hot rolled products would fall almost 7% to CNY 4,020 per tonne, while its 1 mm cold rolled plates would be priced at CNY 5,200 down more than 5%.
