Most Chinese companies maintain home prices for longs, only Hebei Group cuts them

摘要

Most Chinese longs producers have announced stabilization of prices in early June, while Hebei Group has had to reduce offers by $9-25/t (RMB 50-150/t) taking into account currency fluctuations. According to market participants, the drop is attributed to the mill refraining from price cuts for May production unlike most companies, as well as another decline in feedstock and iron ore prices since late April and modest demand.